Melvin, Texas Property Taxes
The median property tax rate in Melvin, TX is 1.67%, which aligns with the Texas state median but is significantly higher than the national median of 0.99%. With a median home value of $119,700 in Melvin, the typical annual property tax bill amounts to $1,399, surpassing the national median of $2,690. Property taxes in Melvin are determined based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Melvin'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 Melvin or another part of Concho County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Melvin, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$1,999
$1,850
Ownwell’s Melvin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melvin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melvin 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 Melvin, Texas
Property taxes in Melvin, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melvin is 1.67%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Melvin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melvin 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 Melvin's effective property tax rate to other counties in Texas and the national median. For comparison, the 76858 zip code has the highest median property tax rate of 1.67%, while the 76858 zip code also has the lowest median tax rate of 1.67%. Understanding how these cities compare with Melvin provides valuable insights into the varying tax landscape across Concho County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melvin Tax Rate
1.67%
Average Concho County Tax Rate
1.70%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melvin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76858 | 0.33% | 1.15% | 1.67% | 1.67% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Melvin, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Melvin, Texas. 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 Concho 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 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. For example, the highest median tax bill in Melvin is $1,399 in the 76858 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 Melvin Assessed Value
$119,700
Average Concho County Assessed Value
$75,090
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melvin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76858 | $20,064 | $29,200 | $119,700 | $224,570 | $274,070 |
Source: Ownwell
Property Tax Bills Across Melvin, Texas
In Melvin, located in Concho County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Melvin is $119,700. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate, which varies but is typically around the national median of 0.99%. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Melvin, tax bills can significantly impact their finances. At the 25th percentile, property tax bills are around $493, while at the 75th percentile, they rise to $2,024. The 90th percentile sees tax bills as high as $2,460. These variations highlight how property taxes can differ widely even within the same area. Understanding these factors is crucial for homeowners to budget effectively and potentially seek exemptions or appeals to manage their tax liabilities better.
Average Melvin Tax Bill
$1,399
Average Concho County Tax Bill
$1,196
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Melvin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76858 | $335 | $493 | $1,399 | $2,024 | $2,460 |
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 | |
|---|---|
| Concho Appraisal District | |
| Website | esearch.conchocad.org |