Masterson, Texas Property Taxes
The median property tax rate in Masterson, TX is 1.48%, which is considerably higher than the national median of 0.99% but below the Texas state median of 1.67%. With the median home value in Masterson at $124,850, the typical annual property tax bill reaches $812, much lower than the national median of $2,690. Property taxes in Masterson 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 Masterson'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 Masterson 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
Masterson, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$1,848
$1,710
$1,148
Average Masterson, Texas Tax Savings
Ownwell’s Masterson Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Masterson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Masterson to provide an estimated property tax bill. This valuable tool not only helps you comprehend potential tax liabilities but also demonstrates how Ownwell can assist in reducing property taxes in Masterson. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Masterson, Texas
Property taxes in Masterson, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Masterson is 1.48%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Masterson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Masterson 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 Masterson's effective property tax rate to other counties in Texas and the national median. For comparison, the 79058 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Masterson provides valuable insights into the varying tax landscape across Potter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Masterson Tax Rate
1.48%
Average Potter County Tax Rate
2.16%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Masterson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79058 | 0.52% | 0.53% | 1.48% | 1.75% | 1.82% |
Source: Ownwell
$1,148
Average Masterson Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Masterson, Texas
In Masterson, 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 Potter 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 Masterson, 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. The median home price in Masterson is $124,850, with tax bills ranging from $356 at the 25th percentile to $4,945 at the 90th percentile. Knowing these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Masterson Assessed Value
$124,850
Average Potter County Assessed Value
$109,916
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Masterson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79058 | $11,218 | $20,532 | $124,850 | $164,284 | $254,192 |
Source: Ownwell
$1,148
Average Masterson Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Masterson, Texas
Property tax bills in Masterson, Potter 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 and reflects the market value of the home. For example, a home with a median price of $124,850 would have its tax bill calculated using the local tax rate. In Masterson, the tax bills vary significantly, with the 25th percentile at $356 and the 75th percentile reaching $2,906. At the higher end, the 90th percentile tax bill can go up to $4,945. These property taxes can be a burden for homeowners, especially when values and rates fluctuate. This is where Ownwell steps in. By offering property tax appeal and exemption services, Ownwell helps homeowners ensure their properties are fairly assessed, potentially lowering their tax bills. Through expert analysis and representation, Ownwell can save homeowners a substantial amount on their annual property taxes, making homeownership more affordable.
Average Masterson Tax Bill
$812
Average Potter County Tax Bill
$2,237
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Masterson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79058 | $126 | $356 | $812 | $2,906 | $4,945 |
Source: Ownwell
$1,148
Average Masterson 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 | |
|---|---|
| Potter Appraisal District | |
| Website | www.prad.org |
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