Point, Texas Property Taxes
The median property tax rate in Point, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Point at $54,244, the typical annual property tax bill reaches $1,022, exceeding the national median of $2,690. Property taxes in Point 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 Point'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 Point 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
Point, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$1,004
$928
Ownwell’s POINT Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in POINT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in POINT 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 Point, Texas
Property taxes in Point, Texas, play a crucial role in funding essential local services including public schools, road maintenance, and emergency services. The median tax rate in Point is 1.85%, which is significantly higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Point 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. For comparison, the 75472 zip code has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these cities compare with Point 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 Point Tax Rate
1.85%
Average Rains County Tax Rate
1.71%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75472 | 1.31% | 1.57% | 1.85% | 2.20% | 4.27% |
Source: Ownwell
Property Tax Assessment Values Across Point, Texas
In Point, 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 Point, 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. Point's median home price is $54,244, with tax bills ranging significantly. The 25th percentile tax bill is $289, while the 75th percentile reaches $2,534, and the 90th percentile hits $4,169. The highest and lowest median tax bills are both $1,022 in zip code 75472. Being aware of these valuation processes in Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Point Assessed Value
$54,244
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 Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75472 | $1,300 | $7,560 | $54,244 | $146,149 | $256,054 |
Source: Ownwell
Property Tax Bills Across Point, Texas
In POINT, Rains 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, which evaluates the property's market value. Once the assessed value is established, the local tax rate is applied to determine the tax bill. In POINT, the median home price is $54,244, which provides a baseline for understanding typical tax obligations. Several factors influence the final tax bill, including property improvements, neighborhood changes, and local government budgets. For instance, the tax bill at the 25th percentile is $289, while at the 75th percentile, it rises to $2,534, illustrating the range of tax burdens homeowners might face. At the 90th percentile, the tax bill can reach up to $4,169. This variability significantly impacts homeowners, as those with higher-valued properties or in more desirable neighborhoods may see substantially higher tax bills compared to the national median property tax rate of 0.99%.
Average Point Tax Bill
$1,022
Average Rains County Tax Bill
$1,103
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75472 | $25 | $289 | $1,022 | $2,534 | $4,169 |
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 |