Millsap, Texas Property Taxes
The median property tax rate in Millsap, TX is 1.71%, notably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Millsap at $87,135, the typical annual property tax bill amounts to $1,396, which is below the national median of $2,690. Property taxes in Millsap are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Millsap'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 Millsap 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
Millsap, 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 Millsap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millsap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millsap 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 Millsap, Texas
Property taxes in Millsap, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millsap is 1.71%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Millsap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millsap 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 Millsap's effective property tax rate to other counties in Texas and the national median. For comparison, the 76066 zip code has the highest median property tax rate of 1.71%, while the 76066 zip code also has the lowest median tax rate of 1.71%. Understanding how these cities compare with Millsap provides valuable insights into the varying tax landscape across Palo Pinto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millsap Tax Rate
1.71%
Average Palo Pinto County Tax Rate
1.57%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millsap, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76066 | 1.21% | 1.42% | 1.71% | 1.71% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Millsap, Texas
In Millsap, 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 Palo Pinto 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. In Millsap, 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. The median home price in Millsap stands at $87,135. 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 Millsap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76066 has both the highest and lowest median tax bill, each at $1,396.
Average Millsap Assessed Value
$87,135
Average Palo Pinto County Assessed Value
$144,560
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millsap, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76066 | $36,811 | $47,008 | $87,135 | $171,968 | $308,647 |
Source: Ownwell
Property Tax Bills Across Millsap, Texas
Property tax bills in Millsap, located in Palo Pinto County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of homes. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $87,135, homeowners in Millsap can expect varying tax bills. The tax bill at the 25th percentile is $786, while at the 75th percentile, it rises to $2,601. At the 90th percentile, homeowners may see tax bills as high as $4,966. These figures indicate a range of property tax burdens, reflecting differences in property values and individual assessments. Compared to the national median property tax rate of 0.99%, the tax rates in Millsap can significantly impact homeowners, influencing both monthly budgets and long-term financial planning.
Average Millsap Tax Bill
$1,396
Average Palo Pinto County Tax Bill
$2,369
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Millsap, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76066 | $549 | $786 | $1,396 | $2,601 | $4,966 |
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 | |
|---|---|
| Palo Pinto Appraisal District | |
| Website | iswdataclient.azurewebsites.net |