Petersburg, Texas Property Taxes
The median property tax rate in Petersburg, TX is 1.54%, which is considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Petersburg at $137,541, the typical annual property tax bill reaches $2,121, slightly below the national median of $2,690. Property taxes in Petersburg are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Petersburg'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 Petersburg 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
Petersburg, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$2,118
$1,960
Ownwell’s Petersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Petersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Petersburg 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 Petersburg, Texas
Property taxes in Petersburg, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Petersburg is 1.54%, significantly higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Petersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Petersburg 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 Petersburg's effective property tax rate to other counties in Texas and the national median. For comparison, the 79250 zip code has the highest median property tax rate of 1.54%, while the 79250 zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Petersburg provides valuable insights into the varying tax landscape across Crosby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Petersburg Tax Rate
1.54%
Average Crosby County Tax Rate
2.27%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Petersburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79250 | 1.39% | 1.45% | 1.54% | 1.84% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Petersburg, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Petersburg, 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 Crosby 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 in Petersburg 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. The median home price in Petersburg is $137,541, with tax bills ranging from $1,856 at the 25th percentile to $3,995 at the 90th percentile. The zip code 79250 has the highest and lowest median tax bill at $2,121. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Petersburg Assessed Value
$137,541
Average Crosby County Assessed Value
$53,460
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Petersburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79250 | $121,819 | $127,714 | $137,541 | $173,533 | $195,128 |
Source: Ownwell
Property Tax Bills Across Petersburg, Texas
In Petersburg, located in Crosby County, TX, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate, which is set by various taxing authorities, is applied to calculate the annual tax bill. Several factors influence the tax bill, including the size of the property, location, and any applicable exemptions or deductions. For instance, the median home price in Petersburg is $137,541. Homeowners in the 25th percentile can expect a tax bill around $1,856, while those in the 75th percentile might see bills as high as $3,293. The 90th percentile tax bill reaches up to $3,995. Comparatively, the national median property tax rate is 0.99%, making Petersburg's rates relatively moderate. These property taxes significantly impact homeowners, influencing their overall housing costs and potentially affecting their financial planning and homeownership decisions.
Average Petersburg Tax Bill
$2,121
Average Crosby County Tax Bill
$1,091
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Petersburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79250 | $1,697 | $1,856 | $2,121 | $3,293 | $3,995 |
Source: Ownwell