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Farmers Branch, Texas Property Taxes

The median property tax rate in Farmers Branch, TX is 1.86%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Farmers Branch, the typical annual property tax bill reaches $4,416, exceeding the national median of $2,690. Property taxes in Farmers Branch 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 Farmers Branch'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 Farmers Branch 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

Farmers Branch, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.86%

Estimate Property Tax Bill

$4,840

$4,492

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Farmers Branch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farmers Branch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farmers Branch to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Farmers Branch. 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 Farmers Branch, Texas

Property taxes in Farmers Branch, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Farmers Branch is 1.86%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Farmers Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farmers Branch 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 Farmers Branch's effective property tax rate to other counties in Texas and the national median. For comparison, the 75234 zip code has the highest median property tax rate of 1.86%, while the same zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with Farmers Branch provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Farmers Branch, Texas

Source: Ownwell

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0.78%

1.64%

2.51%

Average Farmers Branch Tax Rate

1.86%

Average Dallas County Tax Rate

1.71%

Average Texas Tax Rate

1.67%

Average United States Tax Rate

0.99%

Property Tax Rates Across Farmers Branch, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
752340.79%1.26%1.86%1.98%2.23%

Source: Ownwell

Property Tax Assessment Values Across Farmers Branch, Texas

In Farmers Branch, 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 Dallas 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 Farmers Branch, 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 Farmers Branch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 75234 has the highest and lowest median tax bill, both at $4,416.

Property Tax Assessment Values Across Farmers Branch, Texas

Source: Ownwell

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$35,420

$1,172,740

$2,310,060

Average Farmers Branch Assessed Value

$260,235

Average Dallas County Assessed Value

$276,620

Average Texas Assessed Value

$247,950

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Farmers Branch, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
75234$231,405$251,855$260,235$263,128$287,715

Source: Ownwell

Property Tax Bills Across Farmers Branch, Texas

In Farmers Branch, located in Dallas County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. The tax rate is then applied to this assessed value to determine the tax bill. Factors such as property size, location, and market conditions influence the assessed value. For a median home price of $260,235, the tax bill can range significantly, with the 25th percentile at $3,020 and the 75th percentile at $5,167. The highest median tax bill in the area reaches $4,416 in the 75234 zip code. Comparatively, the national median property tax rate is 0.99%, highlighting that property taxes in Farmers Branch can be substantial. Homeowners can feel the financial impact, especially if their property's assessed value rises. Ownwell can assist homeowners by appealing their property tax assessments and identifying potential exemptions, helping to lower their tax bills and alleviate some of the financial burdens associated with homeownership in Farmers Branch.

Property Tax Bills Across Farmers Branch, Texas

Source: Ownwell

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$350

$13,378

$26,405

Average Farmers Branch Tax Bill

$4,416

Average Dallas County Tax Bill

$4,794

Average Texas Tax Bill

$3,971

Average United States Tax Bill

$2,690

Property Tax Bills Across Farmers Branch, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
75234$1,111$3,020$4,416$5,167$5,489

Source: Ownwell

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