Round Top, Texas Property Taxes
The median property tax rate in Round Top, TX is 0.81%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Round Top, the typical annual property tax bill reaches $4,142, exceeding the national median of $2,690. Property taxes in Round Top 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 Round Top'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 Round Top 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
Round Top, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$3,405
$3,159
Ownwell’s Round Top Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Round Top with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Round Top 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 Round Top, Texas
Property taxes in Round Top, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Round Top is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Round Top set these rates annually, and they can vary significantly across different neighborhoods. Each year, Round Top 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 Round Top's effective property tax rate to other counties in Texas and the national median. For comparison, the 78954 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Round Top provides valuable insights into the varying tax landscape across Austin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Round Top Tax Rate
0.81%
Average Austin County Tax Rate
1.51%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | 0.42% | 0.61% | 0.81% | 1.25% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Round Top, Texas
In Round Top, 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 Austin 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 Round Top, 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. Round Top's median home price is $420,318, with tax bills ranging from $2,327 at the 25th percentile to $17,845 at the 90th percentile. The highest and lowest median tax bills are both $4,142 in zip code 78954. 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 Round Top helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Round Top Assessed Value
$420,318
Average Austin County Assessed Value
$237,942
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | $67,871 | $284,464 | $420,318 | $1,686,618 | $2,511,572 |
Source: Ownwell
Property Tax Bills Across Round Top, Texas
In Round Top, property tax bills are calculated based on the assessed value of a property, which is determined by the local appraisal district. The assessed value is then multiplied by the tax rate set by various taxing entities, such as school districts, municipalities, and special districts. For homeowners, this process involves several key factors: the market value of their property, any applicable exemptions, and the current tax rate. For example, with a median home price of $420,318, homeowners in Round Top might see a wide range of tax bills. The 25th percentile tax bill is around $2,327, while the 75th percentile tax bill can go up to $7,287. At the higher end, the 90th percentile tax bill reaches $17,845. These figures highlight the significant variability in tax bills based on property values and tax rates. Understanding how these elements interact is crucial for homeowners, as it directly impacts their annual financial obligations.
Average Round Top Tax Bill
$4,142
Average Austin County Tax Bill
$2,796
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | $706 | $2,327 | $4,142 | $7,287 | $17,845 |
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 | |
|---|---|
| Austin Appraisal District | |
| Website | esearch.austincad.org |