Olton, Texas Property Taxes
The median property tax rate in Olton, TX is 0.38%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $33,411, the typical annual property tax bill in Olton amounts to just $127, far below the national median of $2,690. Property taxes in Olton are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural land. Understanding Olton'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 Olton or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Olton, 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 Olton, Texas Tax Savings
Ownwell’s Olton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Olton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Olton 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 Olton. 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 Olton, Texas
Property taxes in Olton, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Olton is 1.55%, which is higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Olton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Olton 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 Olton'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 4.13% in Fort Bend County, while the lowest median tax rate is 0.11% in Ward County. Understanding how these cities compare with Olton provides valuable insights into the varying tax landscape across Lamb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Olton Tax Rate
0.38%
Average Webb County Tax Rate
0.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Olton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79064 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
$1,148
Average Olton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Olton, Texas
In Olton, 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 Olton, 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 Olton is $33,411, with the highest median tax bill being $127.00 in the 79064 zip code, which is also the lowest median tax bill in the area. 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 in Olton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Olton Assessed Value
$33,411
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 Olton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79064 | $33,411 | $33,411 | $33,411 | $33,411 | $33,411 |
Source: Ownwell
$1,148
Average Olton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Olton, Texas
In Olton, TX, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Olton is $33,411, and homeowners typically see a consistent tax bill of $127, regardless of the percentile. This uniformity in tax bills is unique compared to the national median property tax rate of 0.99%. Factors such as market conditions, property improvements, and local government budgets influence the assessed value, which in turn affects the tax bill. Homeowners in Olton might find their property tax burdens manageable, but there is always room for savings. Ownwell can help by providing expert property tax appeal and exemption services. Our team reviews your property’s assessed value, identifies discrepancies, and files appeals on your behalf, potentially lowering your tax bill. By leveraging our expertise, you can ensure you’re not overpaying and keep more money in your pocket.
Average Olton Tax Bill
$127
Average Webb County Tax Bill
$727
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Olton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79064 | $127 | $127 | $127 | $127 | $127 |
Source: Ownwell
$1,148
Average Olton 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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