Quitman, Texas Property Taxes
The median property tax rate in Quitman, TX is 0.85%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Quitman at $123,810, the typical annual property tax bill is $878, significantly below the national median of $2,690. Property taxes in Quitman are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Quitman'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 Quitman or another part of Wood County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Quitman, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,052
$974
Ownwell’s Quitman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quitman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quitman 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 Quitman, Texas
Property taxes in Quitman, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quitman is 0.85%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Quitman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quitman 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 Quitman's effective property tax rate to other counties in Texas and the national median. For comparison, the 75783 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Quitman 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 Quitman Tax Rate
0.85%
Average Wood County Tax Rate
0.67%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quitman, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75783 | 0.20% | 0.46% | 0.85% | 1.38% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Quitman, Texas
In Quitman, 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. 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, in Quitman, the median home price is $123,810, and property tax bills can range significantly. The 25th percentile tax bill is $219, while the 75th percentile tax bill is $2,036, and the 90th percentile tax bill is $3,455. Notably, the highest and lowest median tax bills in Quitman both stand at $878, within the zip code 75783. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Quitman Assessed Value
$123,810
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 Quitman, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75783 | $13,760 | $36,608 | $123,810 | $242,300 | $400,920 |
Source: Ownwell
Property Tax Bills Across Quitman, Texas
In Quitman, located in Wood County, TX, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county appraisal district and reflects the market value of the property. The tax rate, applied to this assessed value, is set by local taxing authorities, including school districts, municipalities, and other special districts. Several factors influence the final tax bill, such as property size, location, and any applicable exemptions. For example, homeowners may qualify for homestead exemptions, which can reduce the taxable value of their property. The impact on homeowners in Quitman varies significantly. The 25th percentile of tax bills is around $219, while the 75th percentile reaches $2,036, and the 90th percentile can go up to $3,455. Compared to the national median property tax rate of 0.99%, Quitman homeowners experience a range of tax burdens, influenced by both property values and tax rates. This variability underscores the importance of understanding local tax assessments and potential exemptions.
Average Quitman Tax Bill
$878
Average Wood County Tax Bill
$816
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Quitman, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75783 | $72 | $219 | $878 | $2,036 | $3,455 |
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 |