Lazbuddie, Texas Property Taxes
The median property tax rate in Lazbuddie, TX is 1.49%, which is notably higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With a median home value of $117,660 in Lazbuddie, the typical annual property tax bill amounts to $1,292, falling below the national median of $2,690. Property taxes in Lazbuddie are determined based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Lazbuddie's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Lazbuddie or another part of Parmer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lazbuddie, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,753
$1,622
Ownwell’s Lazbuddie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lazbuddie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lazbuddie 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 Lazbuddie, Texas
Property taxes in Lazbuddie, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lazbuddie is 1.49%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lazbuddie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lazbuddie 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 Lazbuddie's effective property tax rate to other counties in Texas and the national median. For comparison, the 79053 zip code has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Lazbuddie provides valuable insights into the varying tax landscape across Parmer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lazbuddie Tax Rate
1.49%
Average Parmer County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lazbuddie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79053 | 0.87% | 1.19% | 1.49% | 1.59% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Lazbuddie, Texas
In Lazbuddie, 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 Parmer 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 Lazbuddie, 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 example, the median home price in Lazbuddie is $117,660, with tax bills ranging from $1,146 at the 25th percentile to $4,258 at the 90th percentile. The highest and lowest median tax bills are both $1,292 in the 79053 zip code. By understanding the distinction between 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 Lazbuddie Assessed Value
$117,660
Average Parmer County Assessed Value
$93,759
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lazbuddie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79053 | $12,284 | $83,576 | $117,660 | $207,597 | $284,620 |
Source: Ownwell
Property Tax Bills Across Lazbuddie, Texas
In Lazbuddie, located in Parmer County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county appraisal district and reflects the market value of the property. Homeowners in Lazbuddie typically see tax bills that vary significantly depending on the value of their property and the specific tax rates set by local taxing authorities. For example, the median home price in Lazbuddie is $117,660. Property tax bills in the 25th percentile are around $1,146, while those in the 75th percentile reach $2,609. At the 90th percentile, tax bills can rise to $4,258. These figures indicate that homeowners with higher-value properties bear a more substantial tax burden. Comparatively, the national median property tax rate is 0.99%, and Lazbuddie's property tax rates reflect the local economic and market conditions. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Lazbuddie Tax Bill
$1,292
Average Parmer County Tax Bill
$1,407
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lazbuddie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79053 | $203 | $1,146 | $1,292 | $2,609 | $4,258 |
Source: Ownwell