Bailey County Property Taxes
The median property tax rate in Bailey County is 2.99%, which is significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Bailey County, the typical annual property tax bill reaches $1,293, which is below the national median of $2,690. Property taxes in Bailey County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Bailey County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Muleshoe or another part of Bailey County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bailey County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.99%
Estimate Property Tax Bill
$1,403
$1,302
Ownwell’s Bailey County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Bailey County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Bailey County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Bailey County, Texas
Property taxes in Bailey County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Bailey County is 2.99%, which is higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Bailey County set these rates annually, and they can vary significantly between different areas within the county. Each year, Bailey County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Muleshoe has one of the higher property tax rates in Texas at 2.99%, while the city of Maple boasts one of the lowest at 0.96%. Analyzing how Bailey County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Bailey County Tax Rate
2.99%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Bailey County, Texas
In Bailey County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Bailey County Appraisal District. The assessed value, however, 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 in Bailey County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Farwell has the highest median tax bill at $3,622, while Maple has the lowest at $135. Being aware of these valuation processes in Bailey County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Bailey County Assessed Value
$46,929
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bailey County, Texas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Enochs | $25,766 | $25,766 | $25,766 | $25,766 | $25,766 |
| Farwell | $223,526 | $224,299 | $225,588 | $226,876 | $227,650 |
| Maple | $14,032 | $14,032 | $14,032 | $14,032 | $14,032 |
| Morton | $17,169 | $17,169 | $17,169 | $17,169 | $17,169 |
| Muleshoe | $9,192 | $19,853 | $46,784 | $84,987 | $132,604 |
| Sudan | $13,144 | $46,643 | $77,024 | $105,894 | $119,059 |
Source: Ownwell
Property Tax Bills Across Bailey County, Texas
Property tax bills in Bailey County, TX, are calculated based on the assessed value of a property and the applicable tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of the home. Once the market value is established, various factors such as exemptions and local tax rates are applied to calculate the final tax bill. For homeowners in Bailey County, the tax burden can vary significantly. The median home price in the county is $46,929. Tax bills range from the 25th percentile at $520 to the 90th percentile at $3,673. This variation highlights the impact of property value and applicable exemptions on the overall tax bill. For instance, Farwell has the highest median tax bill at $3,622, while Maple has the lowest at $135. Understanding these factors is crucial for homeowners, as property taxes directly affect their annual financial planning and long-term investment in their homes.
Average Bailey County Tax Bill
$1,293
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690