Millsap, Texas Property Taxes
The median property tax rate in Millsap, TX is 1.59%, notably higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With a median home value of $263,045, the typical annual property tax bill in Millsap reaches $3,689, surpassing the national median of $2,690. Property taxes in Millsap are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including 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 Parker County, grasping 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
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$4,182
$3,870
$1,148
Average Millsap, Texas Tax Savings
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 not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Millsap. 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 1.59%, 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 1.59%, while the 76066 zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Millsap provides valuable insights into the varying tax landscape across Parker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millsap Tax Rate
1.59%
Average Parker County Tax Rate
1.54%
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 | 0.76% | 1.16% | 1.59% | 1.66% | 1.84% |
Source: Ownwell
$1,148
Average Millsap Tax Savings
Save on your property taxes & more with 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 Parker 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Millsap's median home price is $263,045, and tax bills can vary significantly, with the 25th percentile at $1,471 and the 75th percentile at $6,366. The highest and lowest median tax bills, both $3,689, are found in the 76066 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Millsap Assessed Value
$263,045
Average Parker County Assessed Value
$335,640
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 | $54,616 | $131,842 | $263,045 | $427,430 | $565,176 |
Source: Ownwell
$1,148
Average Millsap Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Millsap, Texas
In Millsap, Parker County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Millsap face a wide range of tax bills, with the 25th percentile at $1,471 and the 90th percentile reaching up to $8,853, reflecting the diversity in property values. High property taxes can be a financial burden for homeowners. However, Ownwell can help ease this burden by providing expert property tax appeal and exemption services. By reviewing your property’s assessed value and identifying discrepancies or overvaluations, Ownwell can help you file successful appeals to lower your tax bill. Their experienced consultants ensure you only pay your fair share, potentially saving you thousands of dollars annually.
Average Millsap Tax Bill
$3,689
Average Parker County Tax Bill
$4,986
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 | $563 | $1,471 | $3,689 | $6,366 | $8,853 |
Source: Ownwell
$1,148
Average Millsap Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Parker Appraisal District | |
| Website | iswdataclient.azurewebsites.net |
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