Lakewood Village, Texas Property Taxes
The median property tax rate in Lakewood Village, TX is 1.78%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lakewood Village at $109,800, the typical annual property tax bill reaches $1,951, which is below the national median of $2,690. Property taxes in Lakewood Village 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 Lakewood Village'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 Lakewood Village 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
Lakewood Village, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Lakewood Village, Texas Tax Savings
Ownwell’s Lakewood Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakewood Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakewood Village 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 Lakewood Village. 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 Lakewood Village, Texas
Property taxes in Lakewood Village, Texas, play an essential role in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakewood Village is 1.78%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lakewood Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakewood Village 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 Lakewood Village's effective property tax rate to other counties in Texas and the national median. For comparison, the 75068 zip code has the highest median property tax rate of 1.78%, while the 75068 zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Lakewood Village provides valuable insights into the varying tax landscape across Denton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakewood Village Tax Rate
1.78%
Average Denton County Tax Rate
1.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakewood Village, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75068 | 1.12% | 1.53% | 1.78% | 1.78% | 1.78% |
Source: Ownwell
$1,148
Average Lakewood Village Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lakewood Village, Texas
In Lakewood Village, 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 Denton 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 Lakewood Village, 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. For example, the median home price in Lakewood Village is $109,800, with tax bills ranging from $1,919 at the 25th percentile to $18,325 at the 90th percentile. 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 Lakewood Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lakewood Village, Texas
Source: Ownwell
$58,905
$756,350
$1,453,794
Average Lakewood Village Assessed Value
$109,800
Average Denton County Assessed Value
$444,000
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakewood Village, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75068 | $75,744 | $108,000 | $109,800 | $650,000 | $1,154,000 |
Source: Ownwell
$1,148
Average Lakewood Village Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lakewood Village, Texas
In Lakewood Village, Denton County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $109,800, the tax bill for homeowners can vary significantly. At the 25th percentile, the tax bill is $1,919, while at the 75th percentile, it jumps to $11,550, and at the 90th percentile, it reaches $18,325. The highest and lowest median tax bills in the area are both $1,951, found in zip code 75068. These figures illustrate the wide range of property tax burdens that homeowners may face. Homeowners in Lakewood Village can benefit from Ownwell's property tax appeal and exemption services. By thoroughly reviewing your property’s assessed value and comparing it to market trends, Ownwell can identify discrepancies and file appeals on your behalf. This process can result in significant savings, reducing the financial strain of high property taxes. Trust Ownwell to help you navigate the complexities of property tax assessments and secure the best possible outcome for your tax bill.
Average Lakewood Village Tax Bill
$1,951
Average Denton County Tax Bill
$7,425
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakewood Village, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75068 | $1,040 | $1,919 | $1,951 | $11,550 | $18,325 |
Source: Ownwell
$1,148
Average Lakewood Village Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Denton Appraisal District | |
| Phone | (940) 349-3910 |
| Website | esearch.dentoncad.com |
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