Ringgold, Texas Property Taxes
The median property tax rate in Ringgold, TX is 1.31%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $177,750 in Ringgold, the typical annual property tax bill amounts to $2,329, falling below the national median of $2,690. Property taxes in Ringgold are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Familiarizing yourself with Ringgold's property tax system, exploring available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Ringgold or elsewhere in Clay County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Ringgold, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,329
$2,161
Ownwell’s Ringgold Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ringgold with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ringgold 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 Ringgold, Texas
Property taxes in Ringgold, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ringgold is 1.31%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Ringgold set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ringgold 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 Ringgold's effective property tax rate to other counties in Texas and the national median. For comparison, the 76261 zip code has the highest median property tax rate of 1.31%, while the 76261 zip code has the lowest median tax rate of 1.31%. Understanding how these cities compare with Ringgold provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ringgold Tax Rate
1.31%
Average Clay County Tax Rate
1.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ringgold, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76261 | 1.17% | 1.31% | 1.31% | 1.31% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Ringgold, Texas
In Ringgold, 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 Clay 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 Ringgold, 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 Ringgold 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 $2,329 in the 76261 zip code, while the lowest is also $2,329 in the same zip code.
Average Ringgold Assessed Value
$177,750
Average Clay County Assessed Value
$87,850
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ringgold, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76261 | $85,756 | $87,100 | $177,750 | $194,690 | $377,516 |
Source: Ownwell
Property Tax Bills Across Ringgold, Texas
In Ringgold, located in Clay County, TX, property tax bills are determined based on the assessed value of a home, which is distinct from its market value. The local tax assessor evaluates the property to establish its assessed value. This value is then multiplied by the local property tax rate to calculate the annual tax bill. Various factors influence this assessed value, including the property's size, location, and condition. For homeowners in Ringgold, the median home price is $177,750. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,141 and the 75th percentile reaching $2,947. At the higher end, the 90th percentile tax bill can climb to $4,398. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Ringgold's tax bills reflect the local economic conditions and public service needs.
Average Ringgold Tax Bill
$2,329
Average Clay County Tax Bill
$1,547
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ringgold, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76261 | $1,124 | $1,141 | $2,329 | $2,947 | $4,398 |
Source: Ownwell