Hedley, Texas Property Taxes
The median property tax rate in Hedley, TX is 2.05%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Hedley at $24,080, the typical annual property tax bill reaches $464, which is significantly lower than the national median of $2,690. Property taxes in Hedley 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 Hedley'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 Hedley 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
Hedley, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Hedley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hedley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hedley 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 Hedley, Texas
Property taxes in Hedley, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hedley is 2.05%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Hedley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hedley 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 Hedley's effective property tax rate to other counties in Texas and the national median. For comparison, the 79237 zip code has the highest median property tax rate of 2.05%, while the 79237 zip code also has the lowest median tax rate of 2.05%. Understanding how these cities compare with Hedley provides valuable insights into the varying tax landscape across Donley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hedley Tax Rate
2.05%
Average Donley County Tax Rate
2.20%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hedley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79237 | 1.10% | 1.83% | 2.05% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Hedley, Texas
In Hedley, 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 Donley 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 Hedley, 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. The median home price in Hedley is $24,080, with tax bills ranging from $193 at the 25th percentile to $1,539 at the 90th percentile. Being aware of these valuation processes in Hedley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hedley Assessed Value
$24,080
Average Donley County Assessed Value
$35,022
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hedley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79237 | $3,372 | $9,426 | $24,080 | $51,043 | $125,055 |
Source: Ownwell
Property Tax Bills Across Hedley, Texas
In Hedley, located in Donley County, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the property's market value. The local tax rate, set by the county, school districts, and other local entities, is then applied to this assessed value to determine the annual tax bill. For homeowners in Hedley, the median home price is $24,080. Property tax bills can vary significantly, with the 25th percentile tax bill at $193 and the 75th percentile reaching $904. For those at the 90th percentile, the tax bill can be as high as $1,539. The highest median tax bill recorded in the area is $464, which is also the lowest, indicating a consistent median value within the zip code 79237. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners need to be aware of these factors to budget effectively and understand their contributions to local services.
Average Hedley Tax Bill
$464
Average Donley County Tax Bill
$745
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Hedley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79237 | $69 | $193 | $464 | $904 | $1,539 |
Source: Ownwell