Sheffield, Texas Property Taxes
The median property tax rate in Sheffield, TX is 1.73%, which is considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Sheffield at $35,850, the typical annual property tax bill reaches $587, falling below the national median of $2,690. Property taxes in Sheffield 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 Sheffield'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 Sheffield or another part of Pecos County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sheffield, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$620
$574
Ownwell’s Sheffield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sheffield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheffield 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 Sheffield, Texas
Property taxes in Sheffield, Texas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Sheffield is 1.73%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Sheffield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheffield 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 Sheffield's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 79781 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Sheffield provides valuable insights into the varying tax landscape across Pecos County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sheffield Tax Rate
1.73%
Average Pecos County Tax Rate
2.01%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sheffield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79781 | 1.11% | 1.55% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Sheffield, Texas
In Sheffield, 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 Pecos 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 Sheffield is $35,850, with tax bills ranging from $187 at the 25th percentile to $1,864 at the 90th percentile. The highest median tax bill in the area is $587 in the 79781 zip code. 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 Sheffield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sheffield Assessed Value
$35,850
Average Pecos County Assessed Value
$98,890
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sheffield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79781 | $4,570 | $12,705 | $35,850 | $80,668 | $140,657 |
Source: Ownwell
Property Tax Bills Across Sheffield, Texas
In Sheffield, located in Pecos County, TX, property tax bills are calculated based on the assessed value of a homeowner's property. The local tax authorities determine this assessed value, which is then multiplied by the local property tax rate to calculate the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions play a significant role in determining the final tax amount. For homeowners in Sheffield, the median home price is $35,850, and the property tax bill varies widely. For instance, the tax bill at the 25th percentile is $187, while at the 75th percentile, it reaches $1,196. At the 90th percentile, homeowners might see a tax bill as high as $1,864. These figures highlight the variability in tax bills, influenced by property values and individual assessments. Compared to the national median property tax rate of 0.99%, Sheffield's property tax rates can significantly impact homeowners, making it crucial for them to understand how their tax bills are calculated and what factors might affect them.
Average Sheffield Tax Bill
$587
Average Pecos County Tax Bill
$1,702
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Sheffield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79781 | $79 | $187 | $587 | $1,196 | $1,864 |
Source: Ownwell