May, Texas Property Taxes
The median property tax rate in May, TX is 1.21%, which is considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in May at $59,205, the typical annual property tax bill reaches $653, significantly below the national median of $2,690. Property taxes in May are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding May'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 May 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
May, 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 MAY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MAY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MAY 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 May, Texas
Property taxes in May, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in May is 1.21%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within May set these rates annually, and they can vary significantly across different neighborhoods. Each year, May 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 May's effective property tax rate to other counties in Texas and the national median. For comparison, the 76857 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with May provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average May Tax Rate
1.21%
Average Brown County Tax Rate
1.58%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across May, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76857 | 0.74% | 1.07% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across May, Texas
In MAY, 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 Brown 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 MAY, 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 MAY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $653.00, found in zip code 76857.
Average May Assessed Value
$59,205
Average Brown County Assessed Value
$114,110
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across May, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76857 | $8,553 | $22,612 | $59,205 | $136,692 | $339,870 |
Source: Ownwell
Property Tax Bills Across May, Texas
In the city of May, located in Brown County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of the property. Homeowners in May experience property tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $257, while at the 75th percentile, it reaches $1,306. The tax bill for the 90th percentile can go up to $2,621. The median home price in May is $59,205, and the median tax bill in the area is $653, which is below the national median property tax rate of 0.99%. Various factors, such as property improvements, neighborhood developments, and changes in market conditions, can influence the assessed value and, consequently, the tax bill. These property taxes are crucial as they fund local services like schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners.
Average May Tax Bill
$653
Average Brown County Tax Bill
$1,714
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across May, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76857 | $101 | $257 | $653 | $1,306 | $2,621 |
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 | |
|---|---|
| Brown Appraisal District | |
| Website | propaccess.trueautomation.com |