Slaton, Texas Property Taxes
The median property tax rate in Slaton, TX is 1.40%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Slaton, the typical annual property tax bill reaches $2,159, slightly below the national median of $2,690. Property taxes in Slaton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Slaton'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 Slaton 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
Slaton, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,153
$1,992
Ownwell’s Slaton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slaton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slaton 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 Slaton, Texas
Property taxes in Slaton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Slaton is 1.40%, higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Slaton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slaton 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 Slaton's effective property tax rate to other counties in Texas and the national median. For comparison, the 79364 zip code has the highest median property tax rate of 1.40%, while the 79364 zip code has the lowest median tax rate of 1.40%. Understanding how these cities compare with Slaton provides valuable insights into the varying tax landscape across Lubbock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Slaton Tax Rate
1.40%
Average Crosby County Tax Rate
2.27%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Slaton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79364 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Slaton, Texas
In Slaton, 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 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. In Slaton, 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 Slaton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Slaton are both $2,159, found in the 79364 zip code.
Average Slaton Assessed Value
$153,752
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 Slaton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79364 | $153,752 | $153,752 | $153,752 | $153,752 | $153,752 |
Source: Ownwell
Property Tax Bills Across Slaton, Texas
Property tax bills in Slaton, located in Crosby County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's appraisal district, which evaluates the market value of the property. Once the market value is established, the tax rate, set by various taxing entities such as school districts, cities, and counties, is applied to this value to calculate the annual tax bill. In Slaton, the median home price is $153,752. Homeowners in this city can expect a median property tax bill around $2,159, which is notably higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing the overall cost of owning property, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners as they budget for annual expenses and consider the financial implications of property ownership in Slaton.
Average Slaton Tax Bill
$2,159
Average Crosby County Tax Bill
$1,091
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Slaton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79364 | $2,159 | $2,159 | $2,159 | $2,159 | $2,159 |
Source: Ownwell