Throckmorton, Texas Property Taxes
The median property tax rate in Throckmorton, TX is 2.79%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Throckmorton at $42,445, the typical annual property tax bill reaches $1,093, exceeding the national median of $2,690. Property taxes in Throckmorton 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 Throckmorton'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 Throckmorton 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
Throckmorton, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Throckmorton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Throckmorton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Throckmorton 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 Throckmorton, Texas
Property taxes in Throckmorton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Throckmorton is 2.79%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Throckmorton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Throckmorton 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 Throckmorton's effective property tax rate to other counties in Texas and the national median. For comparison, the 76483 zip code has the highest median property tax rate of 2.79%, while the 76483 zip code also has the lowest median tax rate of 2.79%. Understanding how these cities compare with Throckmorton provides valuable insights into the varying tax landscape across Throckmorton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Throckmorton Tax Rate
2.79%
Average Throckmorton County Tax Rate
2.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Throckmorton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76483 | 1.94% | 2.63% | 2.79% | 2.79% | 2.79% |
Source: Ownwell
Property Tax Assessment Values Across Throckmorton, Texas
In Throckmorton, 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 Throckmorton 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 Throckmorton, 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. The median home price in Throckmorton is $42,445. Tax bills can vary significantly, with the 25th percentile bill at $530 and the 75th percentile reaching $1,955. The highest median tax bill in the area is $1,093, found in the 76483 zip code. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Throckmorton Assessed Value
$42,445
Average Throckmorton County Assessed Value
$42,190
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Throckmorton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76483 | $6,990 | $20,170 | $42,445 | $79,372 | $131,665 |
Source: Ownwell
Property Tax Bills Across Throckmorton, Texas
In Throckmorton, 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. Homeowners in Throckmorton can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $530, while at the 75th percentile, it can reach $1,955. At the 90th percentile, homeowners might see a bill as high as $3,171. To put this into perspective, the median home price in Throckmorton is $42,445. Given the national median property tax rate of 0.99%, Throckmorton's tax rates can be seen as relatively moderate or high, depending on the specific property and assessed value. This variability in tax bills can significantly impact homeowners' annual budgets, emphasizing the importance of accurate property assessments and the potential benefits of appealing over-assessments.
Average Throckmorton Tax Bill
$1,093
Average Throckmorton County Tax Bill
$1,022
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Throckmorton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76483 | $172 | $530 | $1,093 | $1,955 | $3,171 |
Source: Ownwell