Bagwell, Texas Property Taxes
The median property tax rate in Bagwell, TX is 1.19%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Bagwell at $123,326, the typical annual property tax bill amounts to $1,287, falling below the national median of $2,690. Property taxes in Bagwell are calculated based on the tax-assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bagwell'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 Bagwell or another part of Red River County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bagwell, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,468
$1,358
Ownwell’s Bagwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bagwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bagwell 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 Bagwell, Texas
Property taxes in Bagwell, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bagwell is 1.19%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Bagwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bagwell 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 Bagwell's effective property tax rate to other counties in Texas and the national median. For comparison, the 75412 zip code has the highest median property tax rate of 1.19%, while the 75412 zip code has the lowest median tax rate of 1.19%. Understanding how these cities compare with Bagwell provides valuable insights into the varying tax landscape across Red River County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bagwell Tax Rate
1.19%
Average Red River County Tax Rate
1.66%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bagwell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75412 | 0.38% | 0.70% | 1.19% | 1.75% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Bagwell, Texas
In Bagwell, 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 Red River 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 Bagwell, 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 highest median tax bill in Bagwell is $1287, found in the 75412 zip code, while the lowest is also $1287 in the same zip code. Being aware of these valuation processes in Bagwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bagwell Assessed Value
$123,326
Average Red River County Assessed Value
$92,290
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bagwell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75412 | $13,178 | $47,513 | $123,326 | $243,840 | $403,544 |
Source: Ownwell
Property Tax Bills Across Bagwell, Texas
In Bagwell, located in Red River 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. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Bagwell, the median home price is $123,326, which serves as a baseline for these calculations. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, homeowners may qualify for exemptions that reduce their taxable value, thereby lowering their tax bill. In Bagwell, tax bills can vary significantly, with the 25th percentile at $524 and the 75th percentile at $2,238. The highest tax bills, in the 90th percentile, can reach up to $3,673. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the community and homeowners' financial planning.
Average Bagwell Tax Bill
$1,287
Average Red River County Tax Bill
$1,273
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Bagwell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75412 | $171 | $524 | $1,287 | $2,238 | $3,673 |
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 | |
|---|---|
| Red River Appraisal District | |
| Website | rrcad.org |