Woodlake, Texas Property Taxes
The median property tax rate in Woodlake, TX is 1.11%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Woodlake at $88,878, the typical annual property tax bill is $842, which is well below the national median of $2,690. Property taxes in Woodlake are based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Woodlake'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 Woodlake or another part of the city, familiarizing yourself with the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Woodlake, 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 Woodlake Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Woodlake with ease. Simply input your property's estimated assessed value, and the calculator uses the median tax rate in Woodlake to provide an estimated tax bill. This valuable resource helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Woodlake, Texas
Property taxes in Woodlake, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodlake is 1.11%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Woodlake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodlake 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 Woodlake's effective property tax rate to other counties in Texas and the national median. For comparison, the 75865 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Woodlake provides valuable insights into the varying tax landscape across Trinity County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodlake Tax Rate
1.11%
Average Trinity County Tax Rate
1.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75865 | 0.43% | 0.86% | 1.11% | 1.21% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Woodlake, Texas
In Woodlake, 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. In Woodlake, 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 Woodlake is $88,878, with the 25th percentile tax bill at $456 and the 75th percentile at $1,473. The highest and lowest median tax bills are both in the zip code 75865, each at $842. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Woodlake Assessed Value
$88,878
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 Woodlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75865 | $28,586 | $47,635 | $88,878 | $160,684 | $320,936 |
Source: Ownwell
Property Tax Bills Across Woodlake, Texas
In Woodlake, 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 assessor, who evaluates the property’s market value. This value is then multiplied by the tax rate set by local taxing authorities. For example, with a median home price of $88,878, homeowners can expect a range of tax bills depending on their property’s assessed value and specific circumstances. Factors influencing the tax bill include the property's location within Woodlake, any exemptions the homeowner may qualify for, and changes in the local tax rate. For instance, tax bills in Woodlake can range from the 25th percentile at $456 to the 75th percentile at $1,473, with the 90th percentile reaching up to $2,030. Compared to the national median property tax rate of 0.99%, homeowners in Woodlake may find their tax bills relatively manageable. However, understanding these factors and the potential for variation is crucial for homeowners planning their finances.
Average Woodlake Tax Bill
$842
Average Trinity County Tax Bill
$945
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75865 | $294 | $456 | $842 | $1,473 | $2,030 |
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 |