Talpa, Texas Property Taxes
The median property tax rate in Talpa, TX is 1.21%, higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Talpa at $104,560, the typical annual property tax bill is approximately $1,045, which is below the national median of $2,690. Property taxes in Talpa are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural use. Understanding Talpa'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 Talpa 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
Talpa, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,265
$1,171
Ownwell’s TALPA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TALPA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TALPA 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 Talpa, Texas
Property taxes in Talpa, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Talpa is 1.21%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Talpa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Talpa 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 Talpa's effective property tax rate to other counties in Texas and the national median. For comparison, the 76882 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Talpa 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 Talpa Tax Rate
1.21%
Average Coleman County Tax Rate
2.45%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Talpa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76882 | 0.42% | 0.71% | 1.21% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Talpa, Texas
In Talpa, 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. Assessment notices in Talpa 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 Talpa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76882 has the highest and lowest median tax bill, both at $1045.
Average Talpa Assessed Value
$104,560
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 Talpa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76882 | $6,034 | $38,200 | $104,560 | $296,440 | $686,102 |
Source: Ownwell
Property Tax Bills Across Talpa, Texas
Property tax bills in Talpa, a city in Coleman County, Texas, are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value takes into account factors such as the property's market value, location, and any improvements made. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $104,560 in Talpa, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $478, while it rises to $2,172 at the 75th percentile and can reach up to $3,570 at the 90th percentile. These figures illustrate the range of property tax burdens residents might face, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Talpa’s local rates can significantly impact homeowners, making it crucial for them to understand how their property’s value and local tax rates influence their annual tax obligations.
Average Talpa Tax Bill
$1,045
Average Coleman County Tax Bill
$898
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Talpa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76882 | $118 | $478 | $1,045 | $2,172 | $3,570 |
Source: Ownwell