Crane County, Texas Property Taxes
The median property tax rate in Crane County is 2.21%, which is significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Crane County, the typical annual property tax bill reaches $1,161, which is below the national median of $2,690. Property taxes in Crane County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Crane County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Crane or another part of Crane County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crane County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$1,294
$1,201
Ownwell’s Crane County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Crane County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Crane County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Crane County, Texas
Property taxes in Crane County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Crane County is 2.21%, which is higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Crane County set these rates annually, and they can vary significantly between different areas within the county. Each year, Crane County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Crane has one of the higher property tax rates in Texas at 2.21%, while the city of Odessa boasts one of the lowest at 1.83%. Analyzing how Crane County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Crane County Tax Rate
2.21%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Crane County, Texas
In Crane County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Crane County Appraisal District. The assessed value, however, 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 Crane County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Crane County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Crane, the city with the highest median tax bill is Crane at $1,255, while Odessa has the lowest at $633.
Average Crane County Assessed Value
$58,550
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Bills Across Crane County, Texas
Property tax bills in Crane County, TX, are calculated based on the assessed value of a property and the local tax rate. The median home price in the county is $58,550, and the tax rate is applied to this value to determine the annual tax bill. Homeowners in Crane County can expect their tax bills to vary significantly; for instance, the tax bill at the 25th percentile is $449, while at the 75th percentile, it rises to $2,405. At the 90th percentile, it can reach as high as $3,939. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Crane County's rate results in a relatively moderate tax burden for its residents. However, even within the county, there are notable variations. For example, the highest median tax bill in the city of Crane is $1,255, whereas Odessa has the lowest median tax bill at $633. These differences can significantly impact homeowners' financial planning and overall cost of living.
Average Crane County Tax Bill
$1,161
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690