Rhome, Texas Property Taxes
The median property tax rate in Rhome, TX is 1.28%, which is considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $312,107 in Rhome, the typical annual property tax bill reaches $3,554, surpassing the national median of $2,690. Property taxes in Rhome are calculated based on the assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Rhome'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 Rhome 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
Rhome, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$3,995
$3,696
$1,148
Average Rhome, Texas Tax Savings
Ownwell’s Rhome Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rhome with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rhome 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 Rhome. 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 Rhome, Texas
Property taxes in Rhome, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rhome is 1.28%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Rhome set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rhome 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 Rhome's effective property tax rate to other counties in Texas and the national median. For comparison, the 76078 zip code has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Rhome provides valuable insights into the varying tax landscape across Wise County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rhome Tax Rate
1.28%
Average Denton County Tax Rate
1.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rhome, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76078 | 0.97% | 0.98% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
$1,148
Average Rhome Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Rhome, Texas
In Rhome, 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 Rhome, 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 Rhome helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 76078, both at $3,554, highlighting the consistency in property tax assessments within the area.
Average Rhome Assessed Value
$312,107
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 Rhome, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76078 | $255,051 | $278,828 | $312,107 | $339,086 | $369,769 |
Source: Ownwell
$1,148
Average Rhome Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Rhome, Texas
In Rhome, located in Denton County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local appraisal district and reflects the market value of the property. Homeowners in Rhome can expect their property tax bill to be influenced by factors such as the home's size, location, and any improvements made. The median home price in Rhome is $312,107, leading to a median tax bill of approximately $3,554, which is significantly higher than the national median property tax rate of 0.99%. These tax bills can place a considerable burden on homeowners, particularly those who fall within the 25th to 90th percentiles, with tax bills ranging from $3,094 to $4,297. Ownwell can help homeowners in Rhome save on their property tax bills by providing expert property tax appeal and exemption services, ensuring that their properties are fairly assessed and that they are not overpaying. This can lead to substantial savings and financial relief for homeowners.
Average Rhome Tax Bill
$3,554
Average Denton County Tax Bill
$7,425
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Rhome, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76078 | $2,673 | $3,094 | $3,554 | $4,008 | $4,297 |
Source: Ownwell
$1,148
Average Rhome 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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