Marlin, Texas Property Taxes
The median property tax rate in Marlin, TX is 3.16%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Marlin, the typical annual property tax bill reaches $1,737, exceeding the national median of $2,690. Property taxes in Marlin 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 Marlin'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 Marlin 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
Marlin, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.16%
Estimate Property Tax Bill
$2,033
$1,887
Ownwell’s Marlin Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marlin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marlin to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Falls County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marlin, Texas
Property taxes in Marlin, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marlin is 3.16%, significantly higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Marlin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marlin 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 Marlin's effective property tax rate to other counties in Texas and the national median. For comparison, the 76661 zip code has both the highest and lowest median property tax rate of 3.16%. Understanding how these cities compare with Marlin provides valuable insights into the varying tax landscape across Falls County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marlin Tax Rate
3.16%
Average Falls County Tax Rate
2.22%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marlin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76661 | 1.74% | 2.49% | 3.16% | 3.37% | 3.37% |
Source: Ownwell
Property Tax Assessment Values Across Marlin, Texas
In Marlin, 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 Falls 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 Marlin, 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 Marlin stands at $64,350, with tax bills ranging from $804 at the 25th percentile to $4,182 at the 90th percentile. The zip code 76661 has both the highest and lowest median tax bill, valued at $1,737. 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 Marlin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marlin Assessed Value
$64,350
Average Falls County Assessed Value
$76,900
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marlin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76661 | $10,150 | $32,575 | $64,350 | $102,480 | $159,450 |
Source: Ownwell
Property Tax Bills Across Marlin, Texas
In Marlin, Falls 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 Marlin is $64,350, which provides a baseline for understanding local property taxes. The tax bill is influenced by several factors, including the property’s assessed value and the applicable tax rate. Homeowners in Marlin can expect their tax bills to vary widely. For instance, the 25th percentile tax bill is $804, while the 75th percentile tax bill reaches $2,804. At the higher end, the 90th percentile tax bill can be as much as $4,182. These variations significantly impact homeowners, depending on their property's assessed value and specific circumstances. Comparatively, the national median property tax rate is 0.99%, offering a benchmark for understanding how Marlin's property taxes stack up. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Marlin Tax Bill
$1,737
Average Falls County Tax Bill
$1,609
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Marlin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76661 | $302 | $804 | $1,737 | $2,804 | $4,182 |
Source: Ownwell