Garwood, Texas Property Taxes
The median property tax rate in Garwood, TX is 1.12%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $79,585 in Garwood, the typical annual property tax bill amounts to $996, falling below the national median of $2,690. Property taxes in Garwood are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Garwood'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 Garwood 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
Garwood, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$891
$827
Ownwell’s Garwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garwood 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 Garwood, Texas
Property taxes in Garwood, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garwood is 1.12%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Garwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garwood 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 Garwood's effective property tax rate to other counties in Texas and the national median. For comparison, the 77442 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Garwood provides valuable insights into the varying tax landscape across Colorado County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garwood Tax Rate
1.12%
Average Colorado County Tax Rate
1.13%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77442 | 0.38% | 0.69% | 1.12% | 1.51% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Garwood, Texas
Understanding the distinction between "market value" and "assessed value" is essential for comprehending property taxes in Garwood, Texas. The market value represents 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 Colorado County Appraisal District for tax purposes. Conversely, 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 Garwood, 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. The median home price in Garwood is $79,585. Understanding these valuation concepts allows property owners to navigate their tax responsibilities better and comprehend how their property taxes are determined. In Garwood, the highest median tax bill is $996 in the zip code 77442, and the lowest median tax bill is also $996 in the same zip code. This awareness helps identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Garwood Assessed Value
$79,585
Average Colorado County Assessed Value
$111,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77442 | $8,046 | $23,496 | $79,585 | $178,085 | $330,496 |
Source: Ownwell
Property Tax Bills Across Garwood, Texas
Property tax bills in Garwood, located in Colorado County, TX, are calculated based on the assessed value of your home and the local property tax rate. The assessed value is determined by the county appraisal district and reflects the market value of your property. For example, with a median home price of $79,585, the property tax rate is applied to this value to determine your annual tax bill. Factors such as property improvements, changes in market conditions, and neighborhood developments can influence your home's assessed value. Homeowners in Garwood can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $349, while the 75th percentile reaches $2,127. At the higher end, the 90th percentile tax bill can be as much as $3,633. Comparatively, the highest and lowest median tax bills in the area both stand at $996, which is above the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services, including schools, emergency services, and infrastructure, directly impacting the community and homeowners.
Average Garwood Tax Bill
$996
Average Colorado County Tax Bill
$1,356
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Garwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77442 | $150 | $349 | $996 | $2,127 | $3,633 |
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 | |
|---|---|
| Colorado Appraisal District | |
| Website | propaccess.trueautomation.com |