Miami, Texas Property Taxes
The median property tax rate in Miami, Texas is 1.66%, slightly lower than the state median of 1.67% but significantly higher than the national median of 0.99%. With a median home value of $62,690 in Miami, the typical annual property tax bill is $923, which is lower than the national median of $2,690. Property taxes in Miami are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Miami'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 Miami 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
Miami, 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 Miami Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miami with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miami 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 Miami, Texas
Property taxes in Miami, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miami is 1.66%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Miami set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miami 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 Miami's effective property tax rate to other counties in Texas and the national median. For comparison, the 79059 zip code has the highest median property tax rate of 1.66%, while the same zip code has the lowest median tax rate of 1.66%. Understanding how these cities compare with Miami provides valuable insights into the varying tax landscape across Roberts County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Miami Tax Rate
1.66%
Average Roberts County Tax Rate
1.56%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miami, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79059 | 0.83% | 1.12% | 1.66% | 2.88% | 2.88% |
Source: Ownwell
Property Tax Assessment Values Across Miami, Texas
In Miami, 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 Roberts 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 Miami, 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 Miami helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 79059, with a value of $923.00, which is also the lowest median tax bill in the area.
Average Miami Assessed Value
$62,690
Average Roberts County Assessed Value
$64,085
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miami, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79059 | $9,666 | $30,255 | $62,690 | $94,575 | $151,198 |
Source: Ownwell
Property Tax Bills Across Miami, Texas
In Miami, Roberts 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, it is multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $62,690, homeowners in Miami can expect a range of tax bills. At the 25th percentile, the tax bill is approximately $405, while at the 75th percentile, it rises to around $1,555. For those at the 90th percentile, the tax bill can reach up to $2,588. These figures illustrate the variability in tax bills based on property values and local tax rates. Comparatively, the highest and lowest median tax bills in the area are both $923, indicating a relatively consistent tax burden across different properties. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Miami Tax Bill
$923
Average Roberts County Tax Bill
$884
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Miami, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79059 | $161 | $405 | $923 | $1,555 | $2,588 |
Source: Ownwell