Mcgregor, Texas Property Taxes
The median property tax rate in McGregor, TX is 0.38%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $215,165 in McGregor, the typical annual property tax bill amounts to $698, which is well below the national median of $2,690. Property taxes in McGregor are determined based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural use. Understanding McGregor'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 McGregor or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mcgregor, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$818
$759
Ownwell’s McGregor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McGregor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McGregor 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 Mcgregor, Texas
Property taxes in McGregor, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McGregor is 1.61%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within McGregor set these rates annually, and they can vary significantly across different neighborhoods. Each year, McGregor 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 McGregor's effective property tax rate to other counties in Texas and the national median. For comparison, the highest median property tax rate in Texas is 2.47% in 77005, while the lowest median tax rate is 0.38% in Coryell County. Understanding how these cities compare with McGregor provides valuable insights into the varying tax landscape across McLennan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcgregor Tax Rate
0.38%
Average Coryell County Tax Rate
1.21%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcgregor, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76657 | 0.11% | 0.24% | 0.38% | 0.65% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Mcgregor, Texas
In McGregor, 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 Coryell 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 McGregor, 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. McGregor's median home price stands at $215,165, and the median tax bill in the 76657 zip code is $698. Awareness of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mcgregor Assessed Value
$215,165
Average Coryell County Assessed Value
$187,894
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcgregor, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76657 | $47,394 | $108,120 | $215,165 | $391,738 | $572,767 |
Source: Ownwell
Property Tax Bills Across Mcgregor, Texas
In McGregor, TX, property tax bills are calculated based on the assessed value of your home, which is determined by local tax authorities. The assessed value is a percentage of the market value of your property. Homeowners in McGregor, located in Coryell County, experience a range of property tax bills. For instance, the median home price is $215,165, and tax bills can vary significantly. The 25th percentile tax bill is approximately $269, while the 75th percentile reaches around $1,411, and the 90th percentile can be as high as $2,968. Several factors influence your tax bill, including the assessed value of your property, local tax rates, and any applicable exemptions. The highest and lowest median tax bills in McGregor both stand at $698, reflecting the uniformity within the zip code 76657. Compared to the national median property tax rate of 0.99%, McGregor's property tax rates can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Mcgregor Tax Bill
$698
Average Coryell County Tax Bill
$1,950
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcgregor, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76657 | $181 | $269 | $698 | $1,411 | $2,968 |
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 | |
|---|---|
| Coryell Appraisal District | |
| Website | propertysearch.coryellcad.org |