Mineola, Texas Property Taxes
The median property tax rate in Mineola, TX is 0.32%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $181,845, the typical annual property tax bill in Mineola amounts to $454, well below the national median of $2,690. Property taxes in Mineola are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Mineola'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 Mineola or another part of Wood County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mineola, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$582
$538
Ownwell’s Mineola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mineola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mineola 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 Mineola, Texas
Property taxes in Mineola, Texas, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mineola is 0.32%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Mineola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mineola 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 Mineola'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 2.18%, while the lowest median tax rate is 0.18%. Understanding how these cities compare with Mineola provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mineola Tax Rate
0.32%
Average Wood County Tax Rate
0.67%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mineola, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75773 | 0.11% | 0.19% | 0.32% | 0.48% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Mineola, Texas
In Mineola, 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 Wood 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 Mineola, 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 example, the median home price in Mineola is $181,845, with annual tax bills ranging from $196 at the 25th percentile to $1,883 at the 90th percentile. Notably, the zip code 75773 has the highest and lowest median tax bills at $454. 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 Mineola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mineola Assessed Value
$181,845
Average Wood County Assessed Value
$164,060
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mineola, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75773 | $16,555 | $73,518 | $181,845 | $292,022 | $419,995 |
Source: Ownwell
Property Tax Bills Across Mineola, Texas
In Mineola, located in Wood County, TX, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. The local tax rate is then applied to this assessed value. For example, with a median home price of $181,845, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. In Mineola, the 25th percentile tax bill is around $196, while the 75th percentile tax bill reaches approximately $912. At the 90th percentile, tax bills can go up to $1,883, indicating a significant range in tax liabilities. The highest and lowest median tax bills in the area both stand at $454, suggesting a level of uniformity in certain parts of the city. These property taxes play a crucial role in funding local services, such as schools and infrastructure, directly impacting the community. Homeowners should understand these factors to better anticipate their annual tax obligations and plan accordingly.
Average Mineola Tax Bill
$454
Average Wood County Tax Bill
$816
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mineola, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75773 | $54 | $196 | $454 | $912 | $1,883 |
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 | |
|---|---|
| Wood Appraisal District | |
| Website | esearch.woodcad.net |