Roscoe, Texas Property Taxes
The median property tax rate in Roscoe, TX is 0.73%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Roscoe at $50,376, the typical annual property tax bill reaches $623, significantly less than the national median of $2,690. Property taxes in Roscoe 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 Roscoe'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 Roscoe 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
Roscoe, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$368
$340
Ownwell’s Roscoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roscoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roscoe 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 Roscoe, Texas
Property taxes in Roscoe, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roscoe is 0.73%, which is higher than both the Texas state median of 0.66% and the U.S. national median of 0.99%. Local government entities within Roscoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roscoe 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 Roscoe's effective property tax rate to other counties in Texas and the national median. For comparison, the 79545 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these cities compare with Roscoe 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 Roscoe Tax Rate
0.73%
Average Scurry County Tax Rate
1.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79545 | 0.29% | 0.51% | 0.73% | 0.97% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Roscoe, Texas
In Roscoe, 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 Roscoe, 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 Roscoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Roscoe is $623 in the 79545 zip code, while the lowest median tax bill is also $623 in the same zip code.
Average Roscoe Assessed Value
$50,376
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 Roscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79545 | $19,817 | $22,220 | $50,376 | $135,079 | $239,264 |
Source: Ownwell
Property Tax Bills Across Roscoe, Texas
Property tax bills in Roscoe, located in Scurry County, TX, are determined by assessing the value of a property and applying the local tax rate. The median home price in Roscoe is $50,376, which is significantly lower than the national median. The tax rate is applied to this assessed value to calculate the annual property tax bill. For homeowners in Roscoe, the 25th percentile tax bill is $156, while the 75th percentile tax bill reaches $1,266. At the 90th percentile, the tax bill can go up to $1,660. Factors influencing the tax bill include the property's assessed value and the local tax rate. These property taxes fund essential services such as schools, public safety, and infrastructure. Homeowners in Roscoe, especially those with higher-valued properties, may see a more substantial impact on their finances due to these taxes. However, compared to the national median property tax rate of 0.99%, Roscoe's property tax bills are relatively manageable, reflecting the lower home values in the area.
Average Roscoe Tax Bill
$623
Average Scurry County Tax Bill
$996
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Roscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79545 | $79 | $156 | $623 | $1,266 | $1,660 |
Source: Ownwell