Crane, Crane County, Texas Property Taxes
The median property tax rate in Crane, TX is 2.21%, 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 at $61,040, the typical annual property tax bill reaches $1,255, surpassing the national median of $2,690. Property taxes in Crane are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Crane'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 Crane 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
Crane, Crane County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$1,349
$1,252
Ownwell’s Crane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crane 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 Crane, Crane County, Texas
Property taxes in Crane, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crane is 2.21%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Crane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crane 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 Crane's effective property tax rate to other counties in Texas and the national median. For comparison, the 79731 zip code has the highest median property tax rate of 2.21%, while the same zip code also has the lowest median tax rate of 2.21%. Understanding how these cities compare with Crane provides valuable insights into the varying tax landscape across Crane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crane Tax Rate
2.21%
Average Crane County Tax Rate
2.21%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crane, Crane County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79731 | 1.61% | 1.83% | 2.21% | 2.21% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Crane, Crane County, Texas
In Crane, 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 Crane 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 Crane, 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. Being aware of these valuation processes in Crane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Crane is $1,255 in the zip code 79731, which also has the lowest median tax bill, highlighting the uniformity in tax bills across the city.
Property Tax Assessment Values Across Crane, Crane County, Texas
Source: Ownwell
$43,370
$52,205
$61,040
Average Crane Assessed Value
$61,040
Average Crane County Assessed Value
$58,550
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crane, Crane County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79731 | $8,203 | $25,122 | $61,040 | $127,588 | $199,598 |
Source: Ownwell
Property Tax Bills Across Crane, Crane County, Texas
Property tax bills in Crane, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates properties to reflect their market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Crane, the median home price is $61,040. Property tax bills can vary significantly, with the 25th percentile tax bill at $477, the 75th percentile at $2,636, and the 90th percentile reaching as high as $4,053. These figures illustrate the range of tax liabilities homeowners might face, depending on the assessed value of their property. The national median property tax rate is 0.99%, and while Crane's specific rate isn't provided, the range of tax bills suggests a variable rate influenced by local factors. Homeowners in Crane should be aware of these variables as they can significantly impact their annual property tax obligations. Understanding these factors can help homeowners better anticipate and manage their property tax bills.
Average Crane Tax Bill
$1,255
Average Crane County Tax Bill
$1,161
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Crane, Crane County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79731 | $156 | $477 | $1,255 | $2,636 | $4,053 |
Source: Ownwell