Oilton, Texas Property Taxes
The median property tax rate in Oilton, TX is 0.37%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Oilton at $31,367, the typical annual property tax bill is just $99, well below the national median of $2,690. Property taxes in Oilton 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 Oilton'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 Oilton or another part of Webb County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oilton, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Oilton, Texas Tax Savings
Ownwell’s Oilton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oilton 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 Oilton. 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 Oilton, Texas
Property taxes in Oilton, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oilton is 1.42%, significantly higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Oilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oilton 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 Oilton's effective property tax rate to other counties in Texas and the national median. For comparison, the highest median property tax rate in Texas is found in zip code 77024 at 2.51%, while the lowest median tax rate is in zip code 79854 at 0.31%. Understanding how these cities compare with Oilton provides valuable insights into the varying tax landscape across Webb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oilton Tax Rate
0.37%
Average Webb County Tax Rate
0.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oilton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78371 | 0.24% | 0.35% | 0.37% | 0.38% | 0.39% |
Source: Ownwell
$1,148
Average Oilton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Oilton, Texas
In Oilton, 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 Webb 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 Oilton, 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. For example, the 25th percentile tax bill in Oilton is $34, while the 75th percentile tax bill is $207, and the 90th percentile tax bill is $360. Being aware of these valuation processes in Oilton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oilton Assessed Value
$31,367
Average Webb County Assessed Value
$156,324
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oilton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78371 | $7,452 | $10,650 | $31,367 | $57,808 | $128,640 |
Source: Ownwell
$1,148
Average Oilton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Oilton, Texas
In Oilton, located in Webb 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 Oilton is $31,367. The property tax rate in Texas varies by county and city, and in Webb County, it can lead to significant variations in tax bills. For instance, homeowners at the 25th percentile pay around $34 annually, while those at the 75th percentile face bills of about $207. At the 90th percentile, the tax bill can reach up to $360. These variations are influenced by factors such as property improvements, neighborhood developments, and local government budgets. High property taxes can place a financial burden on homeowners, affecting their overall cost of living. Ownwell can assist by providing expert property tax appeal and exemption services, ensuring that homeowners are not overpaying. By analyzing property assessments and market conditions, Ownwell helps homeowners potentially save hundreds of dollars on their annual property tax bills.
Average Oilton Tax Bill
$99
Average Webb County Tax Bill
$727
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Oilton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78371 | $27 | $34 | $99 | $207 | $360 |
Source: Ownwell
$1,148
Average Oilton 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 | |
|---|---|
| Webb Appraisal District | |
| Website | www.webbcad.org |
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