Lelia Lake, Texas Property Taxes
The median property tax rate in Lelia Lake, TX is 1.83%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lelia Lake at $61,617, the typical annual property tax bill reaches $926, which is significantly lower than the national median of $2,690. Property taxes in Lelia Lake 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 Lelia Lake'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 Lelia Lake or another part of Donley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lelia Lake, 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 Lelia Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lelia Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lelia Lake 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 Lelia Lake, Texas
Property taxes in Lelia Lake, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lelia Lake is 1.83%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lelia Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lelia Lake 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 Lelia Lake's effective property tax rate to other counties in Texas and the national median. For comparison, the 79240 zip code has the highest median property tax rate of 1.83%, while also having the lowest median tax rate of 1.83%. Understanding how these cities compare with Lelia Lake 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 Lelia Lake Tax Rate
1.83%
Average Donley County Tax Rate
2.20%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lelia Lake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79240 | 1.01% | 1.68% | 1.83% | 1.83% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Lelia Lake, Texas
In Lelia Lake, 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 Lelia Lake, 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 Lelia Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $926 in zip code 79240, which also has the lowest median tax bill at $926.
Average Lelia Lake Assessed Value
$61,617
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 Lelia Lake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79240 | $8,373 | $23,034 | $61,617 | $80,640 | $230,376 |
Source: Ownwell
Property Tax Bills Across Lelia Lake, Texas
In Lelia Lake, Donley County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. For homeowners in Lelia Lake, the median home price stands at $61,617. The tax bill homeowners receive can vary significantly. At the 25th percentile, the tax bill is approximately $422, while at the 75th percentile, it rises to about $1,384. For those at the 90th percentile, the tax bill can reach up to $2,302. These variations are influenced by factors such as property size, location, and improvements made to the property. With the national median property tax rate being 0.99%, homeowners in Lelia Lake experience a range of tax bills that can impact their annual expenses. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Lelia Lake Tax Bill
$926
Average Donley County Tax Bill
$745
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lelia Lake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79240 | $122 | $422 | $926 | $1,384 | $2,302 |
Source: Ownwell