Brownwood, Texas Property Taxes
The median property tax rate in Brownwood, TX is 0.63%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Brownwood, the typical annual property tax bill amounts to $3,023, surpassing the national median of $2,690. Property taxes in Brownwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Brownwood's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Brownwood or another part of Coleman County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brownwood, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$3,009
$2,784
Ownwell’s Brownwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brownwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brownwood 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 Brownwood, Texas
Property taxes in Brownwood, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brownwood is 0.63%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Brownwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brownwood 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 Brownwood's effective property tax rate to other counties in Texas and the national median. For comparison, the 76801 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Brownwood provides valuable insights into the varying tax landscape across Coleman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brownwood Tax Rate
0.63%
Average Coleman County Tax Rate
2.45%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brownwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76801 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Brownwood, Texas
In Brownwood, 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 Coleman 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 Brownwood, 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 Brownwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 76801, with a value of $3,023, which is also the lowest median tax bill in the area.
Average Brownwood Assessed Value
$477,690
Average Coleman County Assessed Value
$44,875
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brownwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76801 | $477,690 | $477,690 | $477,690 | $477,690 | $477,690 |
Source: Ownwell
Property Tax Bills Across Brownwood, Texas
In Brownwood, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate. For homeowners in Brownwood, located in Coleman County, the median home price is $477,690. The tax bill is influenced by factors such as property size, location, and any applicable exemptions. Homeowners in this area can expect a median property tax bill of $3,023, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable in Brownwood compared to other regions. The tax bill remains consistent across different percentiles, indicating a stable property tax environment. For residents, understanding these factors can help in financial planning and managing annual expenses related to homeownership.
Average Brownwood Tax Bill
$3,023
Average Coleman County Tax Bill
$898
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Brownwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76801 | $3,023 | $3,023 | $3,023 | $3,023 | $3,023 |
Source: Ownwell