Omaha, Texas Property Taxes
The median property tax rate in Omaha, TX is 1.57%, which is notably higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With the median home value in Omaha at $95,420, the typical annual property tax bill reaches $1,614, falling below the national median of $2,690. Property taxes in Omaha are calculated based on the assessed value, which often comes in lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Omaha's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Omaha or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Omaha, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Omaha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Omaha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Omaha to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Omaha, Texas
Property taxes in Omaha, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Omaha is 1.57%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Omaha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Omaha estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Omaha's effective property tax rate to other counties in Texas and the national median. For comparison, the 75571 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Omaha provides valuable insights into the varying tax landscape across Morris County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Omaha Tax Rate
1.57%
Average Morris County Tax Rate
1.82%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Omaha, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75571 | 1.39% | 1.57% | 1.57% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Omaha, Texas
In Omaha, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Morris County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Omaha is $95,420, with tax bills ranging from $924 at the 25th percentile to $3,822 at the 90th percentile. The zip code 75571 has the highest and lowest median tax bill at $1,614. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Omaha Assessed Value
$95,420
Average Morris County Assessed Value
$87,670
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Omaha, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75571 | $30,296 | $56,970 | $95,420 | $160,780 | $248,048 |
Source: Ownwell
Property Tax Bills Across Omaha, Texas
In Omaha, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor's office, which evaluates the market value of the property and then applies an assessment ratio. For instance, if the median home price in Omaha is $95,420, the assessed value will be a percentage of this amount. The local tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Omaha can expect their tax bills to vary, with the 25th percentile tax bill around $924 and the 75th percentile reaching $2,638. At the higher end, the 90th percentile tax bill can be as much as $3,822. These figures show that property tax rates in Omaha can be quite significant, impacting homeowners' annual expenses. Comparing this to the national median property tax rate of 0.99%, homeowners in Omaha may find their property tax burden to be relatively high or low depending on their specific circumstances.
Average Omaha Tax Bill
$1,614
Average Morris County Tax Bill
$1,437
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Omaha, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75571 | $466 | $924 | $1,614 | $2,638 | $3,822 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Morris Appraisal District | |
| Website | search.morriscad.com |