Wells, Texas Property Taxes
The median property tax rate in Wells, TX is 1.45%, higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $66,590 in Wells, the typical annual property tax bill is $947, which is below the national median of $2,690. Property taxes in Wells are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wells' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wells 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
Wells, 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 Wells Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Wells. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Wells to provide an accurate property tax bill estimate. This insightful tool helps you understand potential tax liabilities, ensuring you are well-prepared for financial planning. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Wells, Texas
Property taxes in Wells, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wells is 1.45%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wells 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 Wells' effective property tax rate to other counties in Texas and the national median. For comparison, the 75976 zip code has the highest median property tax rate of 1.45%, while the 75976 zip code has the lowest median tax rate of 1.45%. Understanding how these cities compare with Wells provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wells Tax Rate
1.45%
Average Cherokee County Tax Rate
1.52%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wells, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75976 | 0.78% | 1.15% | 1.45% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Wells, Texas
In Wells, 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 Cherokee 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 Wells, 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 Wells 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 $947 in zip code 75976, while the lowest is also $947 in the same zip code, reflecting a consistent tax environment.
Average Wells Assessed Value
$66,590
Average Cherokee County Assessed Value
$121,540
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wells, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75976 | $6,922 | $34,810 | $66,590 | $125,520 | $206,386 |
Source: Ownwell
Property Tax Bills Across Wells, Texas
In Wells, located in Cherokee 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 appraisal district and reflects the market value of the property. Homeowners in Wells experience a range of tax bills, with the 25th percentile paying around $441 and the 75th percentile paying about $1,663. At the 90th percentile, tax bills can reach up to $2,505. These taxes contribute significantly to local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. For comparison, the median property tax rate in the United States is 0.99%, making it useful to understand how local rates and property values affect individual tax bills. In Cherokee County, the highest and lowest median tax bills are both $947, illustrating a level of consistency within the region. Homeowners should be aware of these factors as they plan their finances and consider the long-term costs of property ownership.
Average Wells Tax Bill
$947
Average Cherokee County Tax Bill
$1,611
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wells, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75976 | $104 | $441 | $947 | $1,663 | $2,505 |
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 | |
|---|---|
| Cherokee Appraisal District | |
| Website | propaccess.trueautomation.com |