Somerset, Texas Property Taxes
The median property tax rate in Somerset, TX is 2.27%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Somerset at $145,630, the typical annual property tax bill reaches $3,103, surpassing the national median of $2,690. Property taxes in Somerset 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 Somerset'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 Somerset 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
Somerset, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.27%
Estimate Property Tax Bill
$3,306
$3,068
$1,148
Average Tax Savings
Ownwell’s Somerset Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Somerset with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Somerset 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 Somerset. 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 Somerset, Texas
Property taxes in Somerset, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Somerset is 2.27%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Somerset set these rates annually, and they can vary significantly across different neighborhoods. Each year, Somerset 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 Somerset's effective property tax rate to other counties in Texas and the national median. For comparison, the 78069 zip code has the highest median property tax rate of 2.27%, while the same zip code also has the lowest median tax rate of 2.27%. Understanding how these cities compare with Somerset 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.
Average Somerset Tax Rate
2.27%
Average Bexar County Tax Rate
2.03%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somerset, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78069 | 1.53% | 1.92% | 2.27% | 2.68% | 2.68% |
| 78073 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$1,148
Average Somerset Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Somerset, Texas
In Somerset, 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. In Somerset, 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 Somerset is $145,630, with tax bills varying significantly. For instance, the 25th percentile tax bill is $1,850, while the 75th percentile tax bill is $4,954. 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 Somerset helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Somerset Assessed Value
$145,630
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 Somerset, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78069 | $46,648 | $88,310 | $145,630 | $245,560 | $362,258 |
| 78073 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$1,148
Average Somerset Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Somerset, Texas
In Somerset, Bexar County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $145,630, homeowners typically see tax bills ranging from $1,850 at the 25th percentile to $7,536 at the 90th percentile. Factors such as property location, market conditions, and improvements can influence the assessed value, directly impacting the tax bill. Compared to the national median property tax rate of 0.99%, Somerset's rates can be substantial, making it crucial for homeowners to ensure their assessments are accurate. Ownwell offers a solution by providing expert property tax appeal and exemption services. By analyzing property data and market trends, Ownwell identifies opportunities for reducing assessed values and, consequently, tax bills. This personalized approach helps homeowners in Somerset save significantly, ensuring they only pay their fair share.
Average Somerset Tax Bill
$3,103
Average Bexar County Tax Bill
$5,362
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Somerset, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78069 | $895 | $1,850 | $3,103 | $4,954 | $7,536 |
| 78073 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$1,148
Average Somerset 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 | |
|---|---|
| Bexar Appraisal District | |
| Phone | (210) 335-2251 |
| Website | esearch.bcad.org |
Save money on your property taxes with Ownwell.
Enter your address.
With just your address Ownwell will analyze your property expenses to find you savings using real time market data, local expertise and AI.
Answer some questions.
The more we know about your property, the more we can save you. There's no up-front costs, it's risk-free to sign up. Only pay if you save!
Unlock your savings.
We gather evidence, file all documentation, and attend hearings on your behalf year after year, so you never overpay again.