Lamesa, Texas Property Taxes
The median property tax rate in Lamesa, TX is 3.05%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lamesa at $46,665, the typical annual property tax bill reaches $1,292, which is below the national median of $2,690. Property taxes in Lamesa 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 Lamesa'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 Lamesa 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
Lamesa, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.05%
Estimate Property Tax Bill
$1,423
$1,321
Ownwell’s Lamesa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamesa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamesa 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 Lamesa, Texas
Property taxes in Lamesa, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamesa is 3.05%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lamesa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamesa 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 Lamesa's effective property tax rate to other counties in Texas and the national median. For comparison, the 79331 zip code has the highest median property tax rate of 3.05%, while the same zip code also has the lowest median tax rate of 3.05%. Understanding how these cities compare with Lamesa provides valuable insights into the varying tax landscape across Dawson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamesa Tax Rate
3.05%
Average Dawson County Tax Rate
3.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamesa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79331 | 2.29% | 2.57% | 3.05% | 3.14% | 3.14% |
Source: Ownwell
Property Tax Assessment Values Across Lamesa, Texas
In Lamesa, 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 Dawson 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 Lamesa 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 Lamesa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Lamesa, the zip code 79331 has both the highest and lowest median tax bill, valued at $1,292.
Average Lamesa Assessed Value
$46,665
Average Dawson County Assessed Value
$47,460
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamesa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79331 | $9,377 | $20,045 | $46,665 | $94,712 | $156,218 |
Source: Ownwell
Property Tax Bills Across Lamesa, Texas
In Lamesa, located in Dawson County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is typically a percentage of the market value of the property. Homeowners in Lamesa experience a range of property tax bills. For instance, the 25th percentile tax bill is $558, while the 75th percentile reaches $2,726, and the 90th percentile can go up to $4,377. The median home price in Lamesa is $46,665, which influences the overall tax bill. Several factors are considered when determining the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. These factors collectively impact how much homeowners will pay annually. Compared to the national median property tax rate of 0.99%, Lamesa's property tax rates can vary significantly, affecting homeowners' financial planning and budgeting. Understanding how these elements interplay is crucial for homeowners aiming to manage their property tax obligations effectively.
Average Lamesa Tax Bill
$1,292
Average Dawson County Tax Bill
$1,299
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamesa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79331 | $267 | $558 | $1,292 | $2,726 | $4,377 |
Source: Ownwell