Baylor County, Texas Property Taxes
The median property tax rate in Baylor County is 1.37%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Baylor County at $66,610, the typical annual property tax bill is $900, which is well below the national median of $2,690. Property taxes in Baylor County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Baylor 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 Seymour or another part of Baylor County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baylor County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$913
$847
Ownwell’s Baylor County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Baylor County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Baylor 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 Baylor County, Texas
Property taxes in Baylor County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Baylor County is 1.37%, which is higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Baylor County set these rates annually, and they can vary significantly between different areas within the county. Each year, Baylor 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. The following data compares Baylor County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Seymour has one of the higher property tax rates in Texas at 1.37%, while the city of Olney boasts one of the lowest at 0.67%. Analyzing how Baylor County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Baylor County Tax Rate
1.37%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Baylor County, Texas
In Baylor 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 Baylor 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 Baylor 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 example, Olney has the highest median tax bill at $1,394, while Seymour has the lowest at $900. Being aware of these valuation processes in Baylor County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Baylor County Assessed Value
$66,610
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Bills Across Baylor County, Texas
In Baylor 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, which evaluates the property's market value. Once the assessed value is established, the county applies its tax rate to calculate the annual tax bill. Homeowners in Baylor County experience a range of tax bills. For instance, the 25th percentile tax bill is $446, while the 75th percentile reaches $1,637, and the 90th percentile can be as high as $2,527. These variations highlight the impact of property values and tax rates on individual tax obligations. Comparing local cities, Olney has the highest median tax bill at $1,394, whereas Seymour has a lower median tax bill of $900. Understanding these factors helps homeowners anticipate their property tax responsibilities and plan their finances accordingly. With the national median property tax rate at 0.99%, Baylor County's tax landscape offers a diverse range of financial implications for its residents.
Average Baylor County Tax Bill
$900
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690