Lovelady, Texas Property Taxes
The median property tax rate in Lovelady, TX is 0.99%, aligning with the national median of 0.99% but significantly lower than the Texas state median of 1.67%. With the median home value in Lovelady at $172,415, the typical annual property tax bill is $1,342, which is below the national median of $2,690. Property taxes in Lovelady are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lovelady'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 Lovelady 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
Lovelady, 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 Lovelady Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lovelady with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lovelady 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 Lovelady, Texas
Property taxes in Lovelady, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lovelady is 1.3%, higher than both the Texas state median of 1.9% and the U.S. national median of 0.99%. Local government entities within Lovelady set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lovelady 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 Lovelady's effective property tax rate to other counties in Texas and the national median. For comparison, the 75851 zip code has the highest median property tax rate of 1.9%, while the 75851 zip code has the lowest median tax rate of 1.3%. Understanding how these cities compare with Lovelady provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lovelady Tax Rate
0.99%
Average Trinity County Tax Rate
1.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lovelady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75851 | 0.34% | 0.61% | 0.99% | 1.34% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Lovelady, Texas
In Lovelady, 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 Trinity 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. 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. In Lovelady, the median home price is $172,415, with tax bills ranging from $927 at the 25th percentile to $3,511 at the 90th percentile. The highest and lowest median tax bills are both $1,342, found in the 75851 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lovelady Assessed Value
$172,415
Average Trinity County Assessed Value
$68,839
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lovelady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75851 | $35,239 | $93,632 | $172,415 | $365,025 | $573,198 |
Source: Ownwell
Property Tax Bills Across Lovelady, Texas
In Lovelady, located in Trinity County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Lovelady is $172,415. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $927 and the 75th percentile reaching $2,146. At the higher end, the 90th percentile tax bill is $3,511. These figures reflect the assessed value of the property, which is determined by the county appraisal district. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property improvements, market conditions, and local government budgets influence the assessed value and tax rate. Homeowners in Lovelady experience a range of tax bills, but on average, they tend to pay less than the national median property tax rate of 0.99%, offering some financial relief compared to other regions.
Average Lovelady Tax Bill
$1,342
Average Trinity County Tax Bill
$945
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lovelady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75851 | $292 | $927 | $1,342 | $2,146 | $3,511 |
Source: 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 | |
|---|---|
| Trinity Appraisal District | |
| Website | propaccess.trueautomation.com |