Woodson, Texas Property Taxes
The median property tax rate in Woodson, TX is 2.18%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Woodson at $38,550, the typical annual property tax bill reaches $797, which is below the national median of $2,690. Property taxes in Woodson 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 Woodson'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 Woodson 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
Woodson, 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 Woodson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodson 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 Woodson, Texas
Property taxes in Woodson, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodson is 2.18%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Woodson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodson 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 Woodson's effective property tax rate to other counties in Texas and the national median. For comparison, the 76491 zip code has the highest median property tax rate of 2.18%, while the 76491 zip code also has the lowest median tax rate of 2.18%. Understanding how these cities compare with Woodson 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 Woodson Tax Rate
2.18%
Average Throckmorton County Tax Rate
2.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76491 | 1.47% | 1.70% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Woodson, Texas
In Woodson, 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 Woodson, 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 Woodson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76491 has both the highest and lowest median tax bills, standing at $797, reflecting the area's consistent property valuation and tax assessment practices.
Average Woodson Assessed Value
$38,550
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 Woodson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76491 | $9,088 | $19,625 | $38,550 | $66,900 | $105,966 |
Source: Ownwell
Property Tax Bills Across Woodson, Texas
In Woodson, located in Throckmorton County, TX, property tax bills are calculated based on the assessed value of a home. The median home price in Woodson is $38,550. Property taxes are determined by multiplying the assessed value by the local tax rate. For homeowners in Woodson, tax bills can vary significantly. For instance, the 25th percentile tax bill is approximately $385, while the 75th percentile tax bill reaches up to $1,241. At the 90th percentile, homeowners might see tax bills as high as $1,707. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can influence the assessed value of a home, subsequently affecting the tax bill. Compared to the national median property tax rate of 0.99%, Woodson's property tax rates can be considered relatively manageable. However, the impact on homeowners can still be substantial, especially for those with properties at the higher end of the tax spectrum. Understanding these factors is crucial for homeowners aiming to manage their property tax obligations effectively.
Average Woodson Tax Bill
$797
Average Throckmorton County Tax Bill
$1,022
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76491 | $180 | $385 | $797 | $1,241 | $1,707 |
Source: Ownwell