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Terrell Hills, Texas Property Taxes

The median property tax rate in Terrell Hills, TX is 2.07%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Terrell Hills at $1,641,685, the typical annual property tax bill reaches $33,973, significantly exceeding the national median of $2,690. Property taxes in Terrell Hills 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 Terrell Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Terrell Hills 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

Terrell Hills, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

2.07%

Estimate Property Tax Bill

$33,983

$31,535

SAVE WITH OWNWELL

$1,148

Average Tax Savings

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

Property taxes in Terrell Hills, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Terrell Hills is 2.07%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Terrell Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Terrell Hills 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 Terrell Hills' effective property tax rate to other counties in Texas and the national median. For comparison, the 78209 zip code has the highest median property tax rate of 2.07%, while the same zip code also has the lowest median tax rate of 2.07%. Understanding how these cities compare with Terrell Hills 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 Terrell Hills, Texas

Source: Ownwell

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1.23%

1.96%

2.68%

Average Terrell Hills Tax Rate

2.07%

Average Bexar County Tax Rate

2.03%

Average Texas Tax Rate

1.67%

Average United States Tax Rate

0.99%

Property Tax Rates Across Terrell Hills, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
782092.07%2.07%2.07%2.07%2.07%

Source: Ownwell

Property Tax Assessment Values Across Terrell Hills, Texas

In Terrell Hills, 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 Terrell Hills, 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 Terrell Hills stands at $1,641,685, with the 25th percentile tax bill at $31,210 and the 75th percentile tax bill at $36,736. The highest and lowest median tax bills, both at $33,973, are found in the 78209 zip code. 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 Terrell Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Terrell Hills, Texas

Source: Ownwell

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$1,940

$5,727,340

$11,452,740

Average Terrell Hills Assessed Value

$1,641,685

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 Terrell Hills, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
78209$1,428,057$1,508,168$1,641,685$1,775,202$1,855,313

Source: Ownwell

Property Tax Bills Across Terrell Hills, Texas

In Terrell Hills, located in Bexar County, TX, property tax bills are calculated based on the assessed value of the home and the local tax rate. With a median home price of $1,641,685, homeowners in this area face significant property tax bills. The tax rate is applied to the assessed value, and factors such as property condition, improvements, and market trends are considered. For example, the tax bill at the 25th percentile is $31,210, while at the 75th percentile, it rises to $36,736. The highest median tax bill in the region is $33,973, which is notably higher than the national median property tax rate of 0.99%. Ownwell can help homeowners in Terrell Hills by providing expert property tax appeal and exemption services. By analyzing your property’s assessed value and comparing it to market data, Ownwell identifies opportunities to reduce your tax bill. This tailored approach can lead to substantial savings, ensuring you don’t overpay on your property taxes.

Property Tax Bills Across Terrell Hills, Texas

Source: Ownwell

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$37

$131,466

$262,895

Average Terrell Hills Tax Bill

$33,973

Average Bexar County Tax Bill

$5,362

Average Texas Tax Bill

$3,971

Average United States Tax Bill

$2,690

Property Tax Bills Across Terrell Hills, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
78209$29,552$31,210$33,973$36,736$38,393

Source: Ownwell

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