Troy, Texas Property Taxes
The median property tax rate in Troy, TX is 1.17%, considerably higher than the national median of 0.99% but lower than Texas' state median of 1.67%. With the median home value in Troy at $208,418, the typical annual property tax bill reaches $1,914, falling below the national median of $2,690. Property taxes in Troy 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 Troy'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 Troy 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
Troy, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$2,438
$2,256
$1,148
Average Troy, Texas Tax Savings
Ownwell’s Troy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Troy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Troy to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Troy. 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 Troy, Texas
Property taxes in Troy, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Troy is 1.17%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Troy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Troy 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 Troy's effective property tax rate to other counties in Texas and the national median. For comparison, the 76579 zip code has the highest median property tax rate of 1.17%, while the 76579 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Troy provides valuable insights into the varying tax landscape across Bell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Troy Tax Rate
1.17%
Average Bell County Tax Rate
1.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Troy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76579 | 0.35% | 0.78% | 1.17% | 1.54% | 1.67% |
Source: Ownwell
$1,148
Average Troy Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Troy, Texas
In Troy, 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 Bell 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 Troy, 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. The median home price in Troy is $208,418, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $627, while the 75th percentile tax bill is $3,423. The 90th percentile tax bill can go as high as $4,973. 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 Troy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Troy Assessed Value
$208,418
Average Bell County Assessed Value
$243,415
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Troy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76579 | $29,450 | $78,706 | $208,418 | $291,434 | $379,097 |
Source: Ownwell
$1,148
Average Troy Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Troy, Texas
In Troy, Bell County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $208,418, homeowners can expect varying tax bills. The 25th percentile tax bill is around $627, while the 75th percentile can reach up to $3,423, and the 90th percentile peaks at $4,973. These tax bills can significantly impact homeowners, especially when they fall on the higher end of the spectrum. This is where Ownwell's expertise comes in. By providing property tax appeal and exemption services, Ownwell helps homeowners ensure their property is assessed fairly and accurately. This can lead to substantial savings, reducing the financial burden on homeowners and ensuring they only pay what is necessary. Trust Ownwell to navigate the complexities of property tax calculations and secure the best possible outcome for your property tax bill.
Average Troy Tax Bill
$1,914
Average Bell County Tax Bill
$3,265
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Troy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76579 | $155 | $627 | $1,914 | $3,423 | $4,973 |
Source: Ownwell
$1,148
Average Troy Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Bell Appraisal District | |
| Phone | (254) 939-5841 |
| Website | esearch.bellcad.org |
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