Ferris, Texas Property Taxes
The median property tax rate in Ferris, TX is 1.12%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Ferris, the typical annual property tax bill reaches $1,838, which is below the national median of $2,690. Property taxes in Ferris are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ferris'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 Ferris 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
Ferris, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,976
$1,829
$1,148
Average Ferris, Texas Tax Savings
Ownwell’s Ferris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferris 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 Ferris. 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 Ferris, Texas
Property taxes in Ferris, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferris is 1.12%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Ferris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferris 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 Ferris's effective property tax rate to other counties in Texas and the national median. For comparison, the 75125 zip code has both the highest and lowest median property tax rate of 1.12%. Understanding how these cities compare with Ferris provides valuable insights into the varying tax landscape across Ellis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ferris Tax Rate
1.12%
Average Ellis County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferris, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75125 | 0.27% | 0.63% | 1.12% | 1.55% | 2.22% |
Source: Ownwell
$1,148
Average Ferris Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Ferris, Texas
In Ferris, 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 Ellis 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 Ferris, 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 Ferris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ferris both amount to $1,838, found in the 75125 zip code.
Average Ferris Assessed Value
$176,460
Average Ellis County Assessed Value
$332,264
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ferris, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75125 | $32,000 | $87,922 | $176,460 | $298,537 | $378,009 |
Source: Ownwell
$1,148
Average Ferris Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Ferris, Texas
In Ferris, located in Ellis County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Ferris is $176,460, and the property tax rate in the area is relatively high compared to the national median of 0.99%. Factors such as the 25th percentile tax bill of $795 and the 75th percentile tax bill of $3,208 illustrate the range of what homeowners might expect to pay. At the 90th percentile, tax bills can reach up to $5,380, reflecting the significant impact of property taxes on homeowners. Ownwell can help homeowners in Ferris save on their property tax bills by providing expert property tax appeal and exemption services. Our team of professionals will review your property's assessed value, identify discrepancies, and file appeals on your behalf to ensure you are not overpaying. By leveraging our services, homeowners can potentially reduce their tax burden, making homeownership more affordable and financially manageable.
Average Ferris Tax Bill
$1,838
Average Ellis County Tax Bill
$4,181
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferris, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75125 | $306 | $795 | $1,838 | $3,208 | $5,380 |
Source: Ownwell
$1,148
Average Ferris 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 | |
|---|---|
| Ellis Appraisal District | |
| Phone | (972) 825-5150 |
| Website | www.elliscad.com |
Save money on your property taxes with Ownwell.
Enter your address.
With just your address Ownwell will analyze your property expenses to find you savings using real time market data, local expertise and AI.
Answer some questions.
The more we know about your property, the more we can save you. There's no up-front costs, it's risk-free to sign up. Only pay if you save!
Unlock your savings.
We gather evidence, file all documentation, and attend hearings on your behalf year after year, so you never overpay again.