Ovalo, Texas Property Taxes
The median property tax rate in Ovalo, TX is 1.36%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $253,958, the typical annual property tax bill in Ovalo is $2,410, slightly below the national median of $2,690. Property taxes in Ovalo are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural use. By understanding Ovalo's property tax system and exploring available exemptions, homeowners can potentially achieve significant annual savings. Whether you reside in Ovalo or another part of Taylor County, gaining insight into the local property tax framework is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Ovalo, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$3,454
$3,196
$1,148
Average Ovalo, Texas Tax Savings
Ownwell’s Ovalo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ovalo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ovalo 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 Ovalo. 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 Ovalo, Texas
Property taxes in Ovalo, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ovalo is 1.36%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Ovalo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ovalo 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 Ovalo's effective property tax rate to other counties in Texas and the national median. For comparison, the 79541 zip code has the highest median property tax rate of 1.36%, while the 79541 zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Ovalo provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ovalo Tax Rate
1.36%
Average Taylor County Tax Rate
2.16%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ovalo, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79541 | 0.37% | 0.82% | 1.36% | 1.44% | 1.44% |
Source: Ownwell
$1,148
Average Ovalo Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Ovalo, Texas
In Ovalo, 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 Taylor 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 Ovalo, 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, the highest median tax bill in Ovalo is $2,410, while the lowest median tax bill is also $2,410, both in zip code 79541. 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 Ovalo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ovalo Assessed Value
$253,958
Average Taylor County Assessed Value
$148,796
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ovalo, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79541 | $31,641 | $91,044 | $253,958 | $413,759 | $542,959 |
Source: Ownwell
$1,148
Average Ovalo Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Ovalo, Texas
In Ovalo, Taylor County, TX, property tax bills are primarily determined by the assessed value of a home and the local tax rate. The assessed value is based on the market value of the property, which can fluctuate annually. Homeowners in Ovalo face a median property tax rate of 0.95%, slightly below the national median of 0.99%. For instance, with a median home price of $253,958, property taxes can range significantly, from the 25th percentile tax bill of $757 to the 90th percentile tax bill of $6,482. Various factors, including property size, location, and improvements, influence the assessed value. These tax bills can have a substantial impact on homeowners, affecting their financial planning and overall cost of living. Ownwell assists homeowners by offering property tax appeal and exemption services. By identifying discrepancies in property assessments and advocating for fair valuations, Ownwell can help reduce property tax bills, ensuring homeowners pay only their fair share. This can lead to significant savings, providing financial relief and peace of mind.
Average Ovalo Tax Bill
$2,410
Average Taylor County Tax Bill
$3,051
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ovalo, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79541 | $281 | $757 | $2,410 | $5,176 | $6,482 |
Source: Ownwell
$1,148
Average Ovalo Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Taylor Appraisal District | |
| Website | esearch.taylor-cad.org |
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