Wayside, Texas Property Taxes
The median property tax rate in Wayside, TX is 1.04%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $142,310 in Wayside, the typical annual property tax bill amounts to $1,254, which falls below the national median of $2,690. Property taxes in Wayside are calculated based on the tax assessed value, which often is lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Wayside'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 Wayside 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
Wayside, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,480
$1,373
Ownwell’s WAYSIDE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WAYSIDE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WAYSIDE 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 Wayside, Texas
Property taxes in Wayside, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wayside is 1.04%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wayside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wayside 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 Wayside's effective property tax rate to other counties in Texas and the national median. For comparison, the 79094 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Wayside 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 Wayside Tax Rate
1.04%
Average Armstrong County Tax Rate
1.68%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wayside, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79094 | 0.77% | 0.89% | 1.04% | 1.20% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Wayside, Texas
In Wayside, 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 Wayside, 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 Wayside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 79094, amounting to $1254.
Average Wayside Assessed Value
$142,310
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 Wayside, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79094 | $34,682 | $48,990 | $142,310 | $183,860 | $279,168 |
Source: Ownwell
Property Tax Bills Across Wayside, Texas
In Wayside, Armstrong County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, reflecting the home's market value. For instance, with a median home price of $142,310, the tax bill can vary significantly. Homeowners in the 25th percentile might see a tax bill around $432, while those in the 75th percentile could pay up to $1,880. At the 90th percentile, the tax bill can reach $2,888. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential services like schools, public safety, and infrastructure. Comparatively, the median tax bill in Wayside aligns closely with the national median property tax rate of 0.99%, making it a crucial consideration for homeowners. Understanding these factors can help homeowners anticipate their tax obligations and budget accordingly.
Average Wayside Tax Bill
$1,254
Average Armstrong County Tax Bill
$1,603
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wayside, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79094 | $311 | $432 | $1,254 | $1,880 | $2,888 |
Source: Ownwell