Bloomburg, Texas Property Taxes
The median property tax rate in Bloomburg, TX is 1.43%, 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 Bloomburg at $57,290, the typical annual property tax bill reaches $806, which is substantially below the national median of $2,690. Property taxes in Bloomburg 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 Bloomburg'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 Bloomburg 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
Bloomburg, 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 Bloomburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bloomburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bloomburg 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 Bloomburg, Texas
Property taxes in Bloomburg, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomburg is 1.43%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Bloomburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomburg 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 Bloomburg's effective property tax rate to other counties in Texas and the national median. For comparison, the 75556 zip code has the highest median property tax rate of 1.43%, while the 75556 zip code has the lowest median tax rate of 1.43%. Understanding how these cities compare with Bloomburg provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomburg Tax Rate
1.43%
Average Cass County Tax Rate
1.43%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75556 | 1.09% | 1.38% | 1.43% | 1.83% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Bloomburg, Texas
In Bloomburg, 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 Cass 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 Bloomburg, 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 Bloomburg is $57,290, with tax bills ranging from $299 at the 25th percentile to $2,244 at the 90th percentile. The zip code with the highest median tax bill is 75556, with a median tax bill of $806. By understanding 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 Bloomburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bloomburg Assessed Value
$57,290
Average Cass County Assessed Value
$69,430
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75556 | $8,504 | $22,310 | $57,290 | $100,190 | $167,072 |
Source: Ownwell
Property Tax Bills Across Bloomburg, Texas
In Bloomburg, property tax bills are calculated based on the assessed value of a home, which is determined by the Cass County appraisal district. The median home price in Bloomburg is $57,290. Property taxes are then applied to this assessed value using the local tax rate. Homeowners in Bloomburg can expect to pay property taxes that vary significantly depending on their property's assessed value and the specific tax rate applied. For instance, the 25th percentile tax bill is around $299, while the 75th percentile tax bill reaches up to $1,472. At the 90th percentile, the tax bill can be as high as $2,244. These variations highlight how different factors, such as property location and improvements, influence the overall tax bill. The highest and lowest median tax bill in the area is $806, both in the 75556 zip code. Understanding these factors is crucial for homeowners, as property taxes directly impact annual financial planning and long-term homeownership costs. By staying informed, residents can better anticipate their tax obligations and manage their finances accordingly.
Average Bloomburg Tax Bill
$806
Average Cass County Tax Bill
$984
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75556 | $125 | $299 | $806 | $1,472 | $2,244 |
Source: Ownwell