Groom, Texas Property Taxes
The median property tax rate in Groom, TX is 1.08%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $285,440 in Groom, the typical annual property tax bill is $3,091, surpassing the national median of $2,690. Property taxes in Groom are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding Groom'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 Groom or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Groom, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,083
$2,852
Ownwell’s Groom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Groom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Groom 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 Groom, Texas
Property taxes in Groom, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Groom is 1.08%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Groom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Groom 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 Groom's effective property tax rate to other counties in Texas and the national median. For comparison, the 79039 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Groom provides valuable insights into the varying tax landscape across Armstrong County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Groom Tax Rate
1.08%
Average Armstrong County Tax Rate
1.68%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Groom, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79039 | 1.08% | 1.08% | 1.08% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Groom, Texas
In Groom, 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 Armstrong 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 Groom, 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. For example, in Groom, the zip code 79039 has both the highest and lowest median tax bill at $3,091. Being aware of these valuation processes in Groom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Groom Assessed Value
$285,440
Average Armstrong County Assessed Value
$115,295
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Groom, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79039 | $285,440 | $285,440 | $285,440 | $285,440 | $285,440 |
Source: Ownwell
Property Tax Bills Across Groom, Texas
In Groom, located in Armstrong County, TX, property tax bills are calculated based on the assessed value of the property and the local tax rate. The median home price in Groom is $285,440, which serves as a starting point for determining the tax bill. Local authorities assess the property value, and this assessed value is then multiplied by the local tax rate to calculate the tax bill. In Groom, the median property tax bill is $3,091, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and market conditions. Homeowners in Groom can expect a consistent tax bill, as both the 25th and 75th percentiles are $3,091, indicating a uniform tax rate across different property values. This uniformity simplifies financial planning for homeowners but also means that the tax burden is relatively high compared to other regions. Understanding these factors can help homeowners anticipate their annual expenses and plan accordingly.
Average Groom Tax Bill
$3,091
Average Armstrong County Tax Bill
$1,603
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Groom, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79039 | $3,091 | $3,091 | $3,091 | $3,091 | $3,091 |
Source: Ownwell