Camp Wood, Texas Property Taxes
The median property tax rate in Camp Wood, TX is 1.22%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $143,938 in Camp Wood, the typical annual property tax bill amounts to $1,130, falling below the national median of $2,690. Property taxes in Camp Wood are based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Camp Wood'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 Camp Wood 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
Camp Wood, 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 Camp Wood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Camp Wood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Camp Wood 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 Camp Wood, Texas
Property taxes in Camp Wood, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Camp Wood is 1.22%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Camp Wood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camp Wood 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 Camp Wood's effective property tax rate to other counties in Texas and the national median. For comparison, the 78833 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Camp Wood provides valuable insights into the varying tax landscape across Edwards County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Camp Wood Tax Rate
1.22%
Average Edwards County Tax Rate
1.44%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camp Wood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78833 | 0.42% | 0.75% | 1.22% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Camp Wood, Texas
In Camp Wood, 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 Edwards 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 Camp Wood, 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 instance, the median home price in Camp Wood is $143,938. Tax bills can range significantly, with the 25th percentile at $715, the 75th percentile at $1,711, and the 90th percentile at $2,744. The highest and lowest median tax bills are both $1,130, found in the 78833 zip code. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Camp Wood Assessed Value
$143,938
Average Edwards County Assessed Value
$71,862
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Camp Wood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78833 | $45,897 | $78,753 | $143,938 | $189,693 | $215,259 |
Source: Ownwell
Property Tax Bills Across Camp Wood, Texas
In Camp Wood, located in Edwards County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the market value of the property. Homeowners in Camp Wood can expect their tax bills to vary significantly depending on the assessed value of their homes. For instance, the 25th percentile tax bill is around $715, while the 75th percentile reaches $1711, and the 90th percentile can be as high as $2744. This variability highlights the impact of property assessments on tax obligations. Compared to the national median property tax rate of 0.99%, Camp Wood's property tax rates may present a different financial burden on homeowners. The highest median tax bill in the area is $1130, which is relatively moderate. These tax bills fund essential local services such as schools, infrastructure, and emergency services, directly affecting the quality of life for residents. Understanding how these factors interplay can help homeowners better anticipate their annual property tax expenses.
Average Camp Wood Tax Bill
$1,130
Average Edwards County Tax Bill
$806
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Camp Wood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78833 | $479 | $715 | $1,130 | $1,711 | $2,744 |
Source: Ownwell