Palm Valley, Texas Property Taxes
The median property tax rate in Palm Valley, TX is 1.28%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $231,397, the typical annual property tax bill in Palm Valley reaches $2,852, exceeding the national median of $2,690. Property taxes in Palm Valley 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 Palm Valley'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 Palm Valley 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
Palm Valley, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$2,962
$2,749
$1,148
Average Tax Savings
Ownwell’s Palm Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palm Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palm Valley 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 Palm Valley. 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 Palm Valley, Texas
Property taxes in Palm Valley, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palm Valley is 1.28%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Palm Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palm Valley 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 Palm Valley's effective property tax rate to other counties in Texas and the national median. For comparison, the 78552 zip code has the highest median property tax rate of 1.28%, while the 78552 zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Palm Valley provides valuable insights into the varying tax landscape across Cameron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palm Valley Tax Rate
1.28%
Average Cameron County Tax Rate
1.37%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palm Valley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78552 | 1.06% | 1.22% | 1.28% | 1.59% | 1.64% |
Source: Ownwell
$1,148
Average Palm Valley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Palm Valley, Texas
In Palm Valley, 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 Cameron 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 Palm Valley, 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 Palm Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,852 in the 78552 zip code, while the lowest is also $2,852 in the same zip code.
Average Palm Valley Assessed Value
$231,397
Average Cameron County Assessed Value
$129,230
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palm Valley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78552 | $159,743 | $178,468 | $231,397 | $356,650 | $471,337 |
Source: Ownwell
$1,148
Average Palm Valley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Palm Valley, Texas
In Palm Valley, Cameron County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, with a median home price of $231,397, homeowners in Palm Valley face varying tax bills, ranging from $2,202 at the 25th percentile to $7,689 at the 90th percentile. These tax bills can significantly impact homeowners, making it crucial to ensure that properties are accurately assessed. Ownwell helps homeowners by providing expert property tax appeal and exemption services. By thoroughly reviewing property assessments and identifying discrepancies, Ownwell can help reduce the assessed value and, consequently, the tax bill. This professional assistance can lead to substantial savings, alleviating the financial burden on homeowners in Palm Valley.
Average Palm Valley Tax Bill
$2,852
Average Cameron County Tax Bill
$1,460
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Palm Valley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78552 | $1,547 | $2,202 | $2,852 | $5,699 | $7,689 |
Source: Ownwell
$1,148
Average Palm Valley 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 | |
|---|---|
| Cameron Appraisal District | |
| Phone | (956) 399-9322 |
| Website | cameron.prodigycad.com |
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