East Tawakoni, Texas Property Taxes
The median property tax rate in East Tawakoni, TX is 4.89%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in East Tawakoni, the typical annual property tax bill reaches $240, which is significantly lower than the national median of $2,690. Property taxes in East Tawakoni 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 East Tawakoni'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 East Tawakoni 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
East Tawakoni, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s EAST TAWAKONI Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST TAWAKONI with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST TAWAKONI 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 East Tawakoni, Texas
Property taxes in East Tawakoni, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Tawakoni is 4.89%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within East Tawakoni set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Tawakoni 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 East Tawakoni's effective property tax rate to other counties in Texas and the national median. For comparison, the 75472 zip code has both the highest and lowest median property tax rate of 4.89%. Understanding how these cities compare with East Tawakoni provides valuable insights into the varying tax landscape across Rains County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Tawakoni Tax Rate
4.89%
Average Rains County Tax Rate
1.71%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Tawakoni, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75472 | 1.79% | 1.79% | 4.89% | 5.05% | 7.47% |
Source: Ownwell
Property Tax Assessment Values Across East Tawakoni, Texas
In East Tawakoni, 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 Rains 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 East Tawakoni, 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 East Tawakoni helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 75472 has the highest median tax bill at $240.00, while the lowest median tax bill also stands at $240.00.
Average East Tawakoni Assessed Value
$4,909
Average Rains County Assessed Value
$62,105
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Tawakoni, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75472 | $2,228 | $2,317 | $4,909 | $14,749 | $75,523 |
Source: Ownwell
Property Tax Bills Across East Tawakoni, Texas
In East Tawakoni, located in Rains County, TX, property tax bills 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, which evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, homeowners in East Tawakoni with properties at the 25th percentile of the market value typically see tax bills around $113, while those at the 75th percentile can expect to pay approximately $785. The highest median tax bill in the area reaches $240. These figures highlight the variability in tax bills based on property values and local tax rates. Compared to the national median property tax rate of 0.99%, East Tawakoni's rates and tax bills are relatively lower, making it an attractive option for homeowners looking for affordability. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average East Tawakoni Tax Bill
$240
Average Rains County Tax Bill
$1,103
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across East Tawakoni, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75472 | $63 | $113 | $240 | $785 | $1,712 |
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 | |
|---|---|
| Rains Appraisal District | |
| Website | esearch.rainscad.org |