Mclean, Texas Property Taxes
The median property tax rate in McLean, TX is 0.91%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $110,336 in McLean, the typical annual property tax bill is around $935, significantly below the national median of $2,690. Property taxes in McLean are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding McLean'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 McLean 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
Mclean, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,004
$932
Ownwell’s McLean Property Tax Bill Calculator empowers homeowners, real estate investors, and potential owners to estimate their annual property taxes in McLean with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McLean 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 Mclean, Texas
Property taxes in McLean, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McLean is 0.91%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within McLean set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLean 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 McLean's effective property tax rate to other counties in Texas and the national median. For comparison, the 79057 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with McLean 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 Mclean Tax Rate
0.91%
Average Donley County Tax Rate
2.20%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mclean, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79057 | 0.38% | 0.50% | 0.91% | 1.50% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Mclean, Texas
In McLean, 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 McLean, 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. The median home price in McLean is $110,336, with tax bills ranging from $846 at the 25th percentile to $1,422 at the 90th percentile. Zip code 79057 has the highest and lowest median tax bill of $935. 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 McLean helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mclean Assessed Value
$110,336
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 Mclean, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79057 | $58,729 | $73,497 | $110,336 | $179,529 | $262,549 |
Source: Ownwell
Property Tax Bills Across Mclean, Texas
In McLean, located in Donley County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in McLean is $110,336. Property taxes are then calculated by applying the local tax rate to this assessed value. For McLean, the median property tax bill is $935, which is below the national median property tax rate of 0.99%. Several factors influence the tax bill, including the assessed property value and the local tax rate. The tax bill can vary significantly; for instance, the tax bill at the 25th percentile is $846, while at the 75th percentile, it rises to $1101, and at the 90th percentile, it reaches $1422. These variations affect homeowners differently, with higher-value properties incurring higher tax bills. Understanding how property taxes are calculated helps homeowners in McLean plan their finances better and anticipate their annual tax obligations.
Average Mclean Tax Bill
$935
Average Donley County Tax Bill
$745
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mclean, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79057 | $667 | $846 | $935 | $1,101 | $1,422 |
Source: Ownwell