Grandfalls, Texas Property Taxes
The median property tax rate in Grandfalls, TX is 1.78%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $55,100, the typical annual property tax bill in Grandfalls is $604, which is below the national median of $2,690. Property taxes in Grandfalls are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Grandfalls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Grandfalls or another part of Ward County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grandfalls, 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 Grandfalls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grandfalls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grandfalls 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 Grandfalls, Texas
Property taxes in Grandfalls, Texas, are crucial for supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grandfalls is 1.78%, notably higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Grandfalls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grandfalls 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 Grandfalls' effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 79742 has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Grandfalls provides valuable insights into the varying tax landscape across Ward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grandfalls Tax Rate
1.78%
Average Ward County Tax Rate
1.64%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grandfalls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79742 | 0.71% | 1.05% | 1.78% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Grandfalls, Texas
In Grandfalls, 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 Ward 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 Grandfalls, 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. The zip code with the highest median tax bill is 79742, amounting to $604. By being aware of these valuation processes in Grandfalls, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grandfalls Assessed Value
$55,100
Average Ward County Assessed Value
$84,385
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grandfalls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79742 | $5,614 | $19,100 | $55,100 | $103,360 | $153,870 |
Source: Ownwell
Property Tax Bills Across Grandfalls, Texas
Property tax bills in Grandfalls, located in Ward County, TX, are calculated based on the assessed value of a property and the local tax rate. The median home price in Grandfalls is $55,100, which is considerably lower than the national median. The property tax rate in this area influences the final tax bill that homeowners receive. For instance, the 25th percentile tax bill is $267, while the 75th percentile tax bill reaches $1,310. Homeowners in the 90th percentile can expect to pay up to $2,031. Several factors contribute to determining the tax bill, including the property's assessed value and any applicable exemptions. The assessed value is typically a percentage of the market value, which local tax authorities determine. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. These taxes are crucial as they fund essential community services such as schools, public safety, and infrastructure. Homeowners in Grandfalls should be aware of these factors to better understand how their property tax bills are determined and how they can potentially appeal or reduce them.
Average Grandfalls Tax Bill
$604
Average Ward County Tax Bill
$1,092
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Grandfalls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79742 | $63 | $267 | $604 | $1,310 | $2,031 |
Source: Ownwell