Matador, Texas Property Taxes
The median property tax rate in Matador, TX is 1.80%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Matador at $30,570, the typical annual property tax bill reaches $435, which is significantly lower than the national median of $2,690. Property taxes in Matador are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Matador'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 Matador or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Matador, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$550
$509
Ownwell’s Matador Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Matador with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Matador 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 Matador, Texas
Property taxes in Matador, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Matador is 1.80%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Matador set these rates annually, and they can vary significantly across different neighborhoods. Each year, Matador 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 Matador's effective property tax rate to other counties in Texas and the national median. For comparison, the 79244 zip code has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Matador provides valuable insights into the varying tax landscape across Motley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Matador Tax Rate
1.80%
Average Motley County Tax Rate
1.72%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Matador, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79244 | 0.99% | 1.14% | 1.80% | 2.36% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Matador, Texas
In Matador, 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 Motley 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Matador helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Matador, the highest median tax bill is $435.00 in zip code 79244, while the lowest median tax bill is also $435.00 in the same zip code.
Average Matador Assessed Value
$30,570
Average Motley County Assessed Value
$28,970
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Matador, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79244 | $1,162 | $9,628 | $30,570 | $54,548 | $82,615 |
Source: Ownwell
Property Tax Bills Across Matador, Texas
In Matador, located in Motley County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Matador is $30,570. Homeowners in this area experience a range of tax bills, with the 25th percentile at $170 and the 75th percentile at $806. The 90th percentile tax bill can reach up to $1,447. These figures reflect how property taxes can vary significantly depending on the assessed value and the specific tax rate applied by local authorities. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. This rate is set by various taxing entities such as school districts, municipalities, and special districts. For homeowners, this means that the amount they owe in property taxes can fluctuate based on changes in property values and tax rates. Compared to the national median property tax rate of 0.99%, homeowners in Matador may find their tax bills relatively manageable, though they still need to budget for potential increases.
Average Matador Tax Bill
$435
Average Motley County Tax Bill
$376
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Matador, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79244 | $37 | $170 | $435 | $806 | $1,447 |
Source: Ownwell