Price, Texas Property Taxes
The median property tax rate in Price, Texas is 1.37%, considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Price being $73,180, the typical annual property tax bill reaches $1,153, which is below the national median of $2,690. Property taxes in Price 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 Price'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 Price 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
Price, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$1,003
$928
Ownwell’s PRICE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PRICE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PRICE 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 Price, Texas
Property taxes in PRICE, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in PRICE is 1.37%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within PRICE set these rates annually, and they can vary significantly across different neighborhoods. Each year, PRICE 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 PRICE's effective property tax rate to other counties in Texas and the national median. For comparison, the 75687 zip code has the highest median property tax rate of 1.37%, while the 75687 zip code has the lowest median tax rate of 1.37%. Understanding how these cities compare with PRICE provides valuable insights into the varying tax landscape across Rusk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Price Tax Rate
1.37%
Average Rusk County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Price, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75687 | 0.85% | 1.24% | 1.37% | 1.65% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Price, Texas
In PRICE, 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 Rusk 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 PRICE, 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 PRICE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,153, found in the 75687 zip code, while the lowest median tax bill is also $1,153 in the same zip code.
Average Price Assessed Value
$73,180
Average Rusk County Assessed Value
$113,250
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Price, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75687 | $14,670 | $46,060 | $73,180 | $109,495 | $157,230 |
Source: Ownwell
Property Tax Bills Across Price, Texas
In the city of PRICE in Rusk County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this area is $73,180. Homeowners face tax bills that can vary significantly depending on their property's assessed value and the tax rates set by local taxing authorities. For instance, homeowners in the 25th percentile can expect a tax bill around $437, while those in the 75th percentile might see a bill of $1,604. The tax bill can go up to $2,230 for those in the 90th percentile. These tax rates are influenced by various factors, including local government budgets and public service funding needs. Compared to the national median property tax rate of 0.99%, the rates in Rusk County can be quite variable, impacting homeowners' annual expenses. Understanding these factors can help homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Price Tax Bill
$1,153
Average Rusk County Tax Bill
$1,761
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Price, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75687 | $201 | $437 | $1,153 | $1,604 | $2,230 |
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 | |
|---|---|
| Rusk Appraisal District | |
| Website | www.ruskcad.org |