Lakehills, Texas Property Taxes
The median property tax rate in Lakehills, TX is 1.10%, slightly above the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $180,015 in Lakehills, the typical annual property tax bill amounts to $1,731, which is below the national median of $2,690. Property taxes in Lakehills are calculated based on the assessed value, which is usually lower than the market value due to various exemptions such as those for primary residences and agricultural land. By understanding the property tax system in Lakehills, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Lakehills or another part of Bandera County, being informed about the local property tax system will be beneficial.
Last Updated June 14, 2024
Lakehills, 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 Lakehills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakehills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakehills 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 Lakehills, Texas
Property taxes in Lakehills, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakehills is 1.10%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lakehills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakehills 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 Lakehills' effective property tax rate to other counties in Texas and the national median. For comparison, the 78063 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Lakehills provides valuable insights into the varying tax landscape across Bandera County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakehills Tax Rate
1.10%
Average Bandera County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakehills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78063 | 0.40% | 0.72% | 1.10% | 1.47% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Lakehills, Texas
In Lakehills, 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 Bandera 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. 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 Lakehills 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 78063, with a tax bill of $1,731.00, which is significantly below the national median property tax rate of 0.99%.
Average Lakehills Assessed Value
$180,015
Average Bandera County Assessed Value
$139,145
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakehills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78063 | $35,964 | $82,938 | $180,015 | $336,375 | $478,732 |
Source: Ownwell
Property Tax Bills Across Lakehills, Texas
In Lakehills, located in Bandera County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of your property. The local tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Lakehills, the median home price is $180,015. Property tax bills can vary significantly, with the 25th percentile at $653 and the 75th percentile reaching $3,653. At the higher end, the 90th percentile tax bill is $5,456. These variations are influenced by factors such as property location, home size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Bandera County's tax rates can result in a broad range of tax bills, impacting homeowners differently. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Lakehills Tax Bill
$1,731
Average Bandera County Tax Bill
$1,165
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakehills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78063 | $242 | $653 | $1,731 | $3,653 | $5,456 |
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 | |
|---|---|
| Bandera Appraisal District | |
| Website | esearch.bancad.org |