Marfa, Texas Property Taxes
The median property tax rate in Marfa, TX is 1.47%, considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Marfa at $208,990, the typical annual property tax bill reaches $2,232, which is below the national median of $2,690. Property taxes in Marfa are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural use. Understanding Marfa'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 Marfa 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
Marfa, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$3,072
$2,842
Ownwell’s Marfa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marfa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marfa 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 Marfa, Texas
Property taxes in Marfa, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marfa is 1.47%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Marfa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marfa 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 Marfa's effective property tax rate to other counties in Texas and the national median. For comparison, the 79843 zip code has the highest median property tax rate of 1.47%, while the 79843 zip code has the lowest median tax rate of 1.47%. Understanding how these cities compare with Marfa provides valuable insights into the varying tax landscape across Presidio County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marfa Tax Rate
1.47%
Average Presidio County Tax Rate
1.49%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marfa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79843 | 0.27% | 0.63% | 1.47% | 1.70% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Marfa, Texas
In Marfa, 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 Presidio 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 Marfa, 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. Being aware of these valuation processes in Marfa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Marfa are both $2,232, found in the 79843 zip code.
Average Marfa Assessed Value
$208,990
Average Presidio County Assessed Value
$88,580
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marfa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79843 | $37,600 | $95,050 | $208,990 | $358,745 | $541,460 |
Source: Ownwell
Property Tax Bills Across Marfa, Texas
In Marfa, located in Presidio County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and market conditions. For homeowners in Marfa, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $938, while the 75th percentile tax bill rises to approximately $4,315. At the 90th percentile, homeowners might see tax bills as high as $6,909. Compared to the national median property tax rate of 0.99%, Marfa's tax rates reflect the unique economic and real estate conditions of the region. This variability in tax bills can significantly impact homeowners, affecting their annual budgeting and long-term financial planning.
Average Marfa Tax Bill
$2,232
Average Presidio County Tax Bill
$1,148
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Marfa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79843 | $343 | $938 | $2,232 | $4,315 | $6,909 |
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 | |
|---|---|
| Presidio Appraisal District | |
| Website | propaccess.trueautomation.com |