Goldsboro, Texas Property Taxes
The median property tax rate in Goldsboro, TX is 1.92%, significantly higher than both the national median of 0.99% and Texas's state median of 1.67%. With a median home value of $157,150 in Goldsboro, the typical annual property tax bill amounts to $2,891, surpassing the national median of $2,690. Property taxes in Goldsboro are determined based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Goldsboro's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Goldsboro or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Goldsboro, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$3,017
$2,792
Ownwell’s Goldsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goldsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goldsboro 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 Goldsboro, Texas
Property taxes in Goldsboro, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goldsboro is 1.92%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Goldsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goldsboro 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 Goldsboro's effective property tax rate to other counties in Texas and the national median. For comparison, the 79519 zip code has the highest median property tax rate of 1.92%, while the 79519 zip code also has the lowest median tax rate of 1.92%. Understanding how these cities compare with Goldsboro provides valuable insights into the varying tax landscape across Runnels County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goldsboro Tax Rate
1.92%
Average Runnels County Tax Rate
2.12%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goldsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79519 | 1.76% | 1.92% | 1.92% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Goldsboro, Texas
In Goldsboro, 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 Runnels 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 Goldsboro, 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. For instance, the highest median tax bill in Goldsboro is $2,891 in the 79519 zip code, while the lowest median tax bill is also $2,891 in the same zip code. 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 Goldsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Goldsboro Assessed Value
$157,150
Average Runnels County Assessed Value
$72,550
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goldsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79519 | $113,510 | $142,095 | $157,150 | $282,572 | $361,456 |
Source: Ownwell
Property Tax Bills Across Goldsboro, Texas
In Goldsboro, Runnels County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. This assessed value is then multiplied by the local property tax rate. The median home price in Goldsboro is $157,150, which serves as a baseline for these calculations. Factors such as property size, location, and improvements can influence the assessed value. The resulting tax bill can vary significantly; for instance, homeowners in the 25th percentile pay around $2,372, while those in the 75th percentile see bills closer to $4,522. At the 90th percentile, tax bills can reach up to $6,930. Comparatively, the highest median tax bill in the region is $2,891, indicating that Goldsboro's property taxes can be relatively high. This variability affects homeowners by influencing their annual housing costs, making it essential to understand and potentially appeal assessed values to ensure fair taxation.
Average Goldsboro Tax Bill
$2,891
Average Runnels County Tax Bill
$1,423
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Goldsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79519 | $1,379 | $2,372 | $2,891 | $4,522 | $6,930 |
Source: Ownwell