Milano, Texas Property Taxes
The median property tax rate in Milano, TX is 1.11%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value in Milano of $344,212, the typical annual property tax bill reaches $3,598, surpassing the national median of $2,690. Property taxes in Milano 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 Milano'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 Milano or another part of Burleson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Milano, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$3,821
$3,546
Ownwell’s Milano Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Milano quickly and accurately. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Milano to provide an estimate of your property tax bill. This valuable resource helps you grasp potential tax liabilities and make informed decisions. For those interested in more detailed neighborhood-level trends, you can explore further localized information below. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Milano, Texas
Property taxes in Milano, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milano is 1.11%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Milano set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milano 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 Milano's effective property tax rate to other counties in Texas and the national median. For comparison, the 76556 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Milano provides valuable insights into the varying tax landscape across Burleson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milano Tax Rate
1.11%
Average Burleson County Tax Rate
1.38%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milano, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76556 | 0.70% | 0.93% | 1.11% | 1.35% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Milano, Texas
In Milano, 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 Burleson 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 Milano, 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 Milano is $344,212, with tax bills ranging from $2,232 at the 25th percentile to $6,634 at the 90th percentile. 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 Milano helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Milano Assessed Value
$344,212
Average Burleson County Assessed Value
$136,543
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milano, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76556 | $192,256 | $282,335 | $344,212 | $598,458 | $719,803 |
Source: Ownwell
Property Tax Bills Across Milano, Texas
In Milano, located in Burleson County, TX, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the assessed value include the property's market value, recent sales of similar properties, and any improvements or renovations made to the property. Homeowners in Milano experience a range of property tax bills. For instance, the 25th percentile tax bill is $2,232, while the 75th percentile reaches $5,062, and the 90th percentile can go as high as $6,634. The median home price in the area is $344,212, which plays a significant role in determining the tax amount. Compared to the national median property tax rate of 0.99%, Milano's tax rates can vary, impacting homeowners differently based on their property's assessed value. This variability means that understanding and managing property tax obligations is crucial for Milano residents to ensure they are not overpaying.
Average Milano Tax Bill
$3,598
Average Burleson County Tax Bill
$1,645
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Milano, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76556 | $1,985 | $2,232 | $3,598 | $5,062 | $6,634 |
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 | |
|---|---|
| Burleson Appraisal District | |
| Website | esearch.burlesonappraisal.com |