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Hollywood Park, Texas Property Taxes

The median property tax rate in Hollywood Park, TX is 2.26%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $2,923,050 in Hollywood Park, the typical annual property tax bill reaches $66,734, far exceeding the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hollywood Park's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hollywood Park or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.

Last Updated June 14, 2024

Hollywood Park, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

2.26%

Estimate Property Tax Bill

$66,061

$61,303

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Hollywood Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hollywood Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hollywood Park 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 Hollywood Park. 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 Hollywood Park, Texas

Property taxes in Hollywood Park, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hollywood Park is 2.26%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Hollywood Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hollywood Park 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 Hollywood Park's effective property tax rate to other counties in Texas and the national median. For comparison, the 78232 zip code has the highest median property tax rate of 2.26%, while the 78232 zip code also has the lowest median tax rate of 2.26%. Understanding how these cities compare with Hollywood Park provides valuable insights into the varying tax landscape across Bexar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Hollywood Park, Texas

Source: Ownwell

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1.23%

1.96%

2.68%

Average Hollywood Park Tax Rate

2.26%

Average Bexar County Tax Rate

2.03%

Average Texas Tax Rate

1.67%

Average United States Tax Rate

0.99%

Property Tax Rates Across Hollywood Park, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
782322.22%2.22%2.26%2.30%2.30%

Source: Ownwell

Property Tax Assessment Values Across Hollywood Park, Texas

In Hollywood Park, 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 Bexar 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 Hollywood Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $66,734, and the lowest median tax bill is also $66,734, both found in the 78232 zip code.

Property Tax Assessment Values Across Hollywood Park, Texas

Source: Ownwell

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$1,940

$5,727,340

$11,452,740

Average Hollywood Park Assessed Value

$2,923,050

Average Bexar County Assessed Value

$265,000

Average Texas Assessed Value

$247,950

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Hollywood Park, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
78232$451,196$747,350$2,923,050$4,993,802$5,101,051

Source: Ownwell

Property Tax Bills Across Hollywood Park, Texas

In Hollywood Park, Bexar County, TX, property tax bills are calculated based on the assessed value of the property, which is determined annually by the county assessor. The assessed value is then multiplied by the local tax rate to determine the final tax bill. With a median home price of $2,923,050, homeowners in Hollywood Park can expect significant tax bills. For instance, the 25th percentile tax bill is $16,558, while the 75th percentile tax bill reaches $114,631. Factors influencing the tax bill include property size, location, and market conditions. High property taxes can be a financial burden for homeowners, making it essential to accurately assess and potentially contest the assessed value. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By leveraging their local market knowledge and assessment expertise, Ownwell can help reduce the assessed value of properties, thereby lowering tax bills. This service ensures homeowners are not overpaying and can save significantly on their annual property taxes.

Property Tax Bills Across Hollywood Park, Texas

Source: Ownwell

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$37

$131,466

$262,895

Average Hollywood Park Tax Bill

$66,734

Average Bexar County Tax Bill

$5,362

Average Texas Tax Bill

$3,971

Average United States Tax Bill

$2,690

Property Tax Bills Across Hollywood Park, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
78232$9,997$16,558$66,734$114,631$117,093

Source: Ownwell

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