Ira, Texas Property Taxes
The median property tax rate in IRA, TX is 1.54%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $83,954 in IRA, the typical annual property tax bill amounts to $889, falling below the national median of $2,690. Property taxes in IRA are calculated based on the tax assessed value, which often remains below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding IRA'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 IRA or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ira, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$1,293
$1,196
Ownwell’s IRA Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in IRA. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in IRA to provide an accurate property tax bill estimate. This tool offers a clear understanding of potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Ira, Texas
Property taxes in IRA, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in IRA is 1.54%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within IRA set these rates annually, and they can vary significantly across different neighborhoods. Each year, IRA 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 IRA's effective property tax rate to other counties in Texas and the national median. For comparison, the 79527 zip code has the highest median property tax rate of 1.54%, while the same zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with IRA provides valuable insights into the varying tax landscape across Scurry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ira Tax Rate
1.54%
Average Scurry County Tax Rate
1.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ira, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79527 | 0.51% | 0.87% | 1.54% | 1.91% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Ira, Texas
In IRA, 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 Scurry 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 IRA, 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 IRA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $889 in the zip code 79527.
Average Ira Assessed Value
$83,954
Average Scurry County Assessed Value
$80,259
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ira, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79527 | $10,524 | $28,827 | $83,954 | $152,867 | $216,665 |
Source: Ownwell
Property Tax Bills Across Ira, Texas
In IRA, Scurry County, TX, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in IRA can expect their property tax bills to vary significantly depending on the value of their homes. For instance, the median home price in the area is $83,954, and property tax bills can range from the 25th percentile at $324 to the 90th percentile at $3,617. Several factors influence the property tax bill, including the property's location within Scurry County, local tax rates, and any applicable exemptions. These taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, the tax obligations in IRA can be substantial for some homeowners, especially those with higher-valued properties. Understanding these factors can help homeowners better anticipate and manage their annual property tax expenses.
Average Ira Tax Bill
$889
Average Scurry County Tax Bill
$996
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ira, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79527 | $147 | $324 | $889 | $2,002 | $3,617 |
Source: Ownwell