Happy, Castro County, Texas Property Taxes
The median property tax rate in Happy, TX is 1.68%, slightly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $71,125 in Happy, the typical annual property tax bill reaches $1,251, which is below the national median of $2,690. Property taxes in Happy are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Happy'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 Happy or another part of Castro County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Happy, Castro County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$1,195
$1,109
Ownwell’s HAPPY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HAPPY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HAPPY 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 Happy, Castro County, Texas
Property taxes in Happy, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Happy is 1.68%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Happy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Happy 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 Happy's effective property tax rate to other counties in Texas and the national median. For comparison, the 79042 zip code has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Happy provides valuable insights into the varying tax landscape across Castro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Happy Tax Rate
1.68%
Average Castro County Tax Rate
2.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Happy, Castro County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79042 | 1.68% | 1.68% | 1.68% | 1.85% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Happy, Castro County, Texas
In HAPPY, 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 Castro 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 HAPPY, 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 HAPPY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 79042, with a median tax bill of $1251.
Property Tax Assessment Values Across Happy, Castro County, Texas
Source: Ownwell
$32,915
$68,988
$105,060
Average Happy Assessed Value
$71,125
Average Castro County Assessed Value
$49,105
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Happy, Castro County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79042 | $26,759 | $48,508 | $71,125 | $91,885 | $107,044 |
Source: Ownwell
Property Tax Bills Across Happy, Castro County, Texas
In Happy, Castro 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's appraisal district, which evaluates the property's market value. For homeowners in Happy, the median home price is $71,125. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and condition. Homeowners in Happy can expect tax bills that vary significantly. For instance, the 25th percentile tax bill is around $919, while the 75th percentile tax bill is approximately $1,542. The 90th percentile tax bill reaches up to $1,797. Compared to the national median property tax rate of 0.99%, Happy's property tax rate may seem relatively moderate, offering some relief to homeowners. However, the variability in tax bills underscores the importance of understanding how local assessments and rates impact individual financial obligations.
Average Happy Tax Bill
$1,251
Average Castro County Tax Bill
$1,097
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Happy, Castro County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79042 | $463 | $919 | $1,251 | $1,542 | $1,797 |
Source: Ownwell