Nazareth, Texas Property Taxes
The median property tax rate in Nazareth, TX is 2.35%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Nazareth at $105,060, the typical annual property tax bill reaches $2,145, which is still below the national median of $2,690. Property taxes in Nazareth 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 Nazareth'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 Nazareth 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
Nazareth, 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 Nazareth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nazareth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nazareth 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 Nazareth, Texas
Property taxes in Nazareth, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nazareth is 2.35%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Nazareth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nazareth 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 Nazareth's effective property tax rate to other counties in Texas and the national median. For comparison, the 79063 zip code has both the highest and lowest median property tax rate of 2.35%. Understanding how these cities compare with Nazareth 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 Nazareth Tax Rate
2.35%
Average Castro County Tax Rate
2.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nazareth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79063 | 1.85% | 1.85% | 2.35% | 2.35% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Nazareth, Texas
In Nazareth, 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 Nazareth, 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. The median home price in Nazareth is $105,060, with tax bills ranging from $1,076 at the 25th percentile to $5,805 at the 90th percentile. The highest and lowest median tax bills are both $2,145 in the 79063 zip code. Being aware of these valuation processes in Nazareth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nazareth Assessed Value
$105,060
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 Nazareth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79063 | $28,008 | $55,675 | $105,060 | $186,335 | $293,750 |
Source: Ownwell
Property Tax Bills Across Nazareth, Texas
In Nazareth, Castro County, TX, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local appraisal district and is a percentage of the market value. Once the assessed value is established, various local tax rates are applied to calculate the total tax bill. Homeowners in Nazareth experience a range of property tax bills, with the 25th percentile paying around $1,076 and the 75th percentile facing bills up to $3,927. The 90th percentile can see tax bills as high as $5,805. Compared to the national median property tax rate of 0.99%, Nazareth's property tax rates can vary significantly based on the assessed value and local tax rates. For homeowners, this means that understanding the assessed value of their property and the applicable tax rates is crucial for financial planning. Notably, the highest and lowest median tax bills in Nazareth are both $2,145, indicating a relatively consistent tax rate across different property values.
Average Nazareth Tax Bill
$2,145
Average Castro County Tax Bill
$1,097
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Nazareth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79063 | $582 | $1,076 | $2,145 | $3,927 | $5,805 |
Source: Ownwell