Redwater, Texas Property Taxes
The median property tax rate in Redwater, TX is 1.65%, slightly lower than the Texas state median of 1.67% but still significantly higher than the national median of 0.99%. With a median home value of $96,284 in Redwater, the typical annual property tax bill is $1,408, which is below the national median of $2,690. Property taxes in Redwater are calculated based on the assessed value, which often falls below market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Redwater'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 Redwater or another part of Bowie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Redwater, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Redwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redwater to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Redwater, Texas
Property taxes in Redwater, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Redwater is 1.65%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Redwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Redwater 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 Redwater's effective property tax rate to other counties in Texas and the national median. For comparison, the 75573 zip code has the highest median property tax rate of 1.65%, while the 75573 zip code has the lowest median tax rate of 1.65%. Understanding how these cities compare with Redwater provides valuable insights into the varying tax landscape across Bowie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Redwater Tax Rate
1.65%
Average Bowie County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redwater, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75573 | 1.27% | 1.44% | 1.65% | 1.65% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Redwater, Texas
In Redwater, 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 Bowie 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 Redwater, 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. For instance, the median home price in Redwater is $96,284, with tax bills ranging from $627 at the 25th percentile to $3,055 at the 90th percentile. The highest and lowest median tax bills are both $1,408 in the 75573 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Redwater Assessed Value
$96,284
Average Bowie County Assessed Value
$119,330
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redwater, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75573 | $14,268 | $39,761 | $96,284 | $140,102 | $212,041 |
Source: Ownwell
Property Tax Bills Across Redwater, Texas
In Redwater, located in Bowie County, TX, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Redwater is $96,284. Homeowners in the 25th percentile of tax bills pay around $627, while those in the 75th percentile face tax bills of approximately $2,128. For those in the 90th percentile, the tax bill can reach up to $3,055. The highest median tax bill in the area is $1,408, which is also the lowest, indicating a uniform tax rate in the zip code 75573. These tax bills significantly impact homeowners, influencing their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Redwater residents experience varying tax burdens depending on their property's assessed value. Understanding these factors helps homeowners anticipate their tax liabilities and manage their finances more effectively.
Average Redwater Tax Bill
$1,408
Average Bowie County Tax Bill
$2,049
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Redwater, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75573 | $220 | $627 | $1,408 | $2,128 | $3,055 |
Source: 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 | |
|---|---|
| Bowie Appraisal District | |
| Website | bowieappraisal.com |