Mineola, Texas Property Taxes
The median property tax rate in Mineola, TX is 1.61%, which is significantly higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With a median home value of $54,486 in Mineola, the typical annual property tax bill amounts to $797, which is considerably lower than the national median of $2,690. Property taxes in Mineola are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mineola'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 Mineola 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
Mineola, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Mineola, Texas Tax Savings
Ownwell’s Mineola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mineola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mineola to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Mineola. 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 Mineola, Texas
Property taxes in Mineola, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mineola is 1.61%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Mineola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mineola 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 Mineola's effective property tax rate to other counties in Texas and the national median. For comparison, the 75773 zip code has the highest median property tax rate of 1.61%, while the 75773 zip code has the lowest median tax rate of 1.61%. Understanding how these cities compare with Mineola provides valuable insights into the varying tax landscape across Smith County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mineola Tax Rate
1.61%
Average Smith County Tax Rate
1.53%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mineola, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75773 | 1.07% | 1.26% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
$1,148
Average Mineola Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Mineola, Texas
In Mineola, 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 Smith 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 Mineola, 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 Mineola 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 $797.00, found in zip code 75773.
Average Mineola Assessed Value
$54,486
Average Smith County Assessed Value
$202,951
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mineola, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75773 | $4,377 | $12,004 | $54,486 | $217,547 | $364,262 |
Source: Ownwell
$1,148
Average Mineola Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Mineola, Texas
In Mineola, property tax bills are calculated based on the assessed value of a home, which is determined by the Smith County Appraisal District. The median home price in Mineola is $54,486. Property taxes are then applied to this assessed value at a rate set by various local taxing entities. The national median property tax rate is 0.99%, but rates can vary significantly depending on specific local policies. Factors influencing the tax bill include the property's assessed value, exemptions for which the homeowner may qualify, and the specific tax rates set by local authorities. For example, in Mineola, the 25th percentile tax bill is around $183, while the 75th percentile tax bill can reach $2,680. Ownwell helps homeowners in Mineola save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying potential errors or overvaluations, Ownwell ensures homeowners are not overpaying, potentially saving them hundreds or even thousands of dollars annually.
Average Mineola Tax Bill
$797
Average Smith County Tax Bill
$2,997
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mineola, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75773 | $69 | $183 | $797 | $2,680 | $4,807 |
Source: Ownwell
$1,148
Average Mineola Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 22 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Smith Appraisal District | |
| Phone | (903) 510-8600 |
| Website | www.smithcad.org |
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