Burkett, Texas Property Taxes
The median property tax rate in Burkett, TX is 1.98%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Burkett at $42,830, the typical annual property tax bill reaches $683, which is below the national median of $2,690. Property taxes in Burkett 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 Burkett'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 Burkett 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
Burkett, 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 Burkett Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Burkett with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Burkett to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed information, including neighborhood-level trends, additional localized data is available below. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Burkett, Texas
Property taxes in Burkett, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burkett is 1.98%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Burkett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burkett 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 Burkett's effective property tax rate to other counties in Texas and the national median. For comparison, the 76828 zip code has the highest median property tax rate of 1.98%, while the same zip code has the lowest median tax rate of 1.98%. Understanding how these cities compare with Burkett 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 Burkett Tax Rate
1.98%
Average Coleman County Tax Rate
2.45%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burkett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76828 | 0.26% | 0.98% | 1.98% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Burkett, Texas
In Burkett, 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 Burkett, 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. In Burkett, the median home price is $42,830, with tax bills varying significantly. The 25th percentile tax bill is $192, while the 75th percentile tax bill is $1,808. Notably, the highest and lowest median tax bills are both $683, found in the 76828 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burkett Assessed Value
$42,830
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 Burkett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76828 | $2,910 | $9,720 | $42,830 | $232,000 | $597,300 |
Source: Ownwell
Property Tax Bills Across Burkett, Texas
In Burkett, located in Coleman County, TX, property tax bills are determined by a combination of the assessed value of the home and the local tax rate. The assessed value is typically a percentage of the market value of the property, with the median home price in Burkett being $42,830. This value is then multiplied by the local tax rate to calculate the tax bill. Several factors influence the final tax bill, including property characteristics, neighborhood factors, and any applicable exemptions. For example, the 25th percentile tax bill in Burkett is $192, while the 75th percentile tax bill is $1,808, and the 90th percentile reaches $3,017. These variations show how different factors can significantly impact what homeowners owe. Compared to the national median property tax rate of 0.99%, Burkett's property tax bills can be relatively moderate, but they still represent a significant expense for homeowners. Understanding these factors can help residents better anticipate their annual property tax obligations and plan accordingly.
Average Burkett Tax Bill
$683
Average Coleman County Tax Bill
$898
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Burkett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76828 | $58 | $192 | $683 | $1,808 | $3,017 |
Source: Ownwell