Lago Vista, Texas Property Taxes
The median property tax rate in Lago Vista, TX is 1.12%, slightly higher than the national median of 0.99% but below the Texas state median of 1.67%. With a median home value of $473,872, the typical annual property tax bill in Lago Vista reaches $5,581, significantly surpassing the national median of $2,690. Property taxes in Lago Vista are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lago Vista'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 Lago Vista 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
Lago Vista, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$5,307
$4,911
$1,148
Average Lago Vista, Texas Tax Savings
Ownwell’s Lago Vista Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lago Vista with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lago Vista 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 Lago Vista. 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 Lago Vista, Texas
Property taxes in Lago Vista, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lago Vista is 1.12%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lago Vista set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lago Vista 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 Lago Vista's effective property tax rate to other counties in Texas and the national median. For comparison, the 78645 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Lago Vista provides valuable insights into the varying tax landscape across Travis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lago Vista Tax Rate
1.12%
Average Travis County Tax Rate
1.31%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lago Vista, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78645 | 0.49% | 0.79% | 1.12% | 1.93% | 2.29% |
Source: Ownwell
$1,148
Average Lago Vista Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lago Vista, Texas
In Lago Vista, 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 Travis 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 Lago Vista, 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 instance, the median home price in Lago Vista is $473,872, with tax bills ranging from $3,312 at the 25th percentile to $13,175 at the 90th percentile. The zip code 78645 has both the highest and lowest median tax bill at $5,581. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Lago Vista Assessed Value
$473,872
Average Travis County Assessed Value
$537,591
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lago Vista, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78645 | $175,149 | $367,089 | $473,872 | $612,673 | $863,542 |
Source: Ownwell
$1,148
Average Lago Vista Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lago Vista, Texas
In Lago Vista, located in Travis County, TX, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. For instance, with a median home price of $473,872, homeowners can expect varying tax bills. The 25th percentile tax bill stands at $3,312, while the 75th percentile reaches $8,880, and the 90th percentile soars to $13,175. These figures highlight the significant impact property taxes can have on household budgets, especially when compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include the assessed property value, local tax rates, and any applicable exemptions. Higher assessed values and rates naturally lead to higher tax bills, affecting homeowners' financial planning and overall affordability. Ownwell's expertise in property tax appeals and exemptions can help homeowners in Lago Vista potentially reduce their tax burdens. By ensuring accurate assessments and identifying applicable exemptions, Ownwell can assist in lowering property tax bills, offering significant savings and easing financial stress for homeowners.
Average Lago Vista Tax Bill
$5,581
Average Travis County Tax Bill
$7,669
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lago Vista, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78645 | $1,366 | $3,312 | $5,581 | $8,880 | $13,175 |
Source: Ownwell
$1,148
Average Lago Vista 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 | |
|---|---|
| Travis Appraisal District | |
| Phone | (512) 834-9317 |
| Website | stage.travis.prodigycad.com |
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