Sebastian, Texas Property Taxes
The median property tax rate in Sebastian, TX is 0.97%, slightly below the national median of 0.99% and significantly lower than the Texas state median of 1.67%. With the median home value in Sebastian at $43,569, the typical annual property tax bill amounts to $402, which is well below the national median of $2,690. Property taxes in Sebastian are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sebastian'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 Sebastian 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
Sebastian, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$423
$391
Ownwell’s Sebastian Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sebastian with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sebastian 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 Sebastian, Texas
Property taxes in Sebastian, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sebastian is 0.97%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Sebastian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sebastian 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 Sebastian's effective property tax rate to other counties in Texas and the national median. For comparison, the 78594 zip code has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these areas compare with Sebastian provides valuable insights into the varying tax landscape across Willacy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sebastian Tax Rate
0.97%
Average Willacy County Tax Rate
1.18%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sebastian, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78594 | 0.88% | 0.93% | 0.97% | 1.02% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Sebastian, Texas
In Sebastian, 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 Willacy 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 Sebastian, 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. Being aware of these valuation processes in Sebastian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sebastian is $43,569, with tax bills ranging from $251 at the 25th percentile to $789 at the 90th percentile. Notably, the zip code 78594 has the highest and lowest median tax bill at $402.
Average Sebastian Assessed Value
$43,569
Average Willacy County Assessed Value
$49,814
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sebastian, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78594 | $15,353 | $27,142 | $43,569 | $65,050 | $92,518 |
Source: Ownwell
Property Tax Bills Across Sebastian, Texas
In Sebastian, located in Willacy County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The median home price in Sebastian is $43,569. Homeowners in this area can expect property tax bills to vary significantly, with the 25th percentile tax bill at $251 and the 75th percentile reaching $585. At the higher end, the 90th percentile tax bill is $789. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the highest and lowest median tax bills in the area are both $402, found in the zip code 78594. This consistency suggests a relatively stable tax rate within this zip code. Compared to the national median property tax rate of 0.99%, Sebastian's property tax rates can be considered relatively low, providing some relief to homeowners in terms of annual financial obligations.
Average Sebastian Tax Bill
$402
Average Willacy County Tax Bill
$574
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Sebastian, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78594 | $160 | $251 | $402 | $585 | $789 |
Source: Ownwell