Lopeno, Texas Property Taxes
The median property tax rate in Lopeno, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lopeno being $38,941, the typical annual property tax bill reaches $689, which is below the national median of $2,690. Property taxes in Lopeno are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lopeno'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 Lopeno 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
Lopeno, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Lopeno Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lopeno with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lopeno 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 Lopeno, Texas
Property taxes in Lopeno, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lopeno is 1.85%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lopeno set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lopeno 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 Lopeno's effective property tax rate to other counties in Texas and the national median. For comparison, the 78564 zip code has both the highest and lowest median property tax rate of 1.85%. Understanding how these cities compare with Lopeno provides valuable insights into the varying tax landscape across Zapata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lopeno Tax Rate
1.85%
Average Zapata County Tax Rate
1.85%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lopeno, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78564 | 1.83% | 1.85% | 1.85% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Lopeno, Texas
In Lopeno, 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 Zapata 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 Lopeno, 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 Lopeno helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 78564, with a median tax bill of $689.
Average Lopeno Assessed Value
$38,941
Average Zapata County Assessed Value
$53,234
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lopeno, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78564 | $7,828 | $19,574 | $38,941 | $73,061 | $104,651 |
Source: Ownwell
Property Tax Bills Across Lopeno, Texas
In Lopeno, located in Zapata County, TX, property tax bills are calculated based on the assessed value of homes. The median home price in Lopeno is $38,941, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For homeowners in Lopeno, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $351, while the 75th percentile tax bill reaches $1,318. At the 90th percentile, homeowners might see a tax bill as high as $1,904. This variance illustrates how different property values and local tax rates can impact the financial burden on homeowners. Compared to the national median property tax rate of 0.99%, Lopeno’s tax rates can be seen as relatively manageable, though individual experiences may vary widely based on specific property assessments and local policies.
Average Lopeno Tax Bill
$689
Average Zapata County Tax Bill
$972
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lopeno, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78564 | $144 | $351 | $689 | $1,318 | $1,904 |
Source: Ownwell