Tatum, Texas Property Taxes
The median property tax rate in Tatum, TX is 1.54%, notably higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With a median home value of $97,210 in Tatum, the typical annual property tax bill amounts to $1,225, which is less than the national median of $2,690. Property taxes in Tatum are determined based on the tax assessed value, generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding Tatum's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Tatum or another part of the city, being well-informed about the local property tax system can provide substantial financial benefits.
Last Updated June 14, 2024
Tatum, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$1,497
$1,385
Ownwell’s Tatum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tatum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tatum 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 Tatum, Texas
Property taxes in Tatum, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tatum is 1.54%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Tatum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tatum 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 Tatum's effective property tax rate to other counties in Texas and the national median. For comparison, the 75691 zip code has both the highest and lowest median property tax rate of 1.54%. Understanding how these cities compare with Tatum 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 Tatum Tax Rate
1.54%
Average Rusk County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tatum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75691 | 0.83% | 1.27% | 1.54% | 1.56% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Tatum, Texas
In Tatum, 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 Tatum, 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 example, in Tatum, the median home price is $97,210, with tax bills ranging from $432 at the 25th percentile to $4,435 at the 90th percentile. The highest and lowest median tax bills are both $1,225 in the 75691 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 Tatum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tatum Assessed Value
$97,210
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 Tatum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75691 | $11,522 | $34,630 | $97,210 | $194,970 | $315,818 |
Source: Ownwell
Property Tax Bills Across Tatum, Texas
In Tatum, located in Rusk 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 market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $97,210, homeowners in Tatum can expect varying tax bills. The 25th percentile tax bill is around $432, while the 75th percentile tax bill reaches $2,756. Those in the 90th percentile might see tax bills as high as $4,435. The highest median tax bill in Tatum is recorded at $1,225 within the 75691 zip code. Compared to the national median property tax rate of 0.99%, Tatum’s rates reflect the local economic conditions and property values. These taxes are crucial for funding public services like schools, roads, and emergency services, directly impacting the quality of life for homeowners.
Average Tatum Tax Bill
$1,225
Average Rusk County Tax Bill
$1,761
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Tatum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75691 | $163 | $432 | $1,225 | $2,756 | $4,435 |
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 |