Mart, Texas Property Taxes
The median property tax rate in Mart, TX is 1.14%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Mart at $252,265, the typical annual property tax bill is $2,384, slightly below the national median of $2,690. Property taxes in Mart are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Mart's property tax system, exploring available exemptions, and identifying potential reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Mart or another part of Falls County, a thorough grasp of the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Mart, 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 MART Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in MART. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in MART to provide an accurate estimate of your property tax bill. This easy-to-use tool helps you understand your potential tax liabilities, making financial planning easier. For those interested in more granular details, localized neighborhood trends are available further down the page. Your property’s assessed value, determined by Falls County, is crucial for these calculations, taking into account any applicable exemptions.
Property Tax Rates Across Mart, Texas
Property taxes in Mart, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mart is 1.14%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Mart set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mart 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 Mart's effective property tax rate to other counties in Texas and the national median. For comparison, the 76664 zip code has the highest median property tax rate of 1.14%, while the 76664 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Mart 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 Mart Tax Rate
1.14%
Average Falls County Tax Rate
2.22%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | 0.34% | 0.60% | 1.14% | 1.83% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Mart, Texas
In MART, 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 MART, 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 example, MART's median home price is $252,265, and the annual tax bill can vary significantly, with the 25th percentile at $1,410 and the 75th percentile at $4,410. 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 MART helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mart Assessed Value
$252,265
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 Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | $75,997 | $129,772 | $252,265 | $470,542 | $749,646 |
Source: Ownwell
Property Tax Bills Across Mart, Texas
In MART, located in Falls County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by the county's appraisal district. For instance, the median home price in MART stands at $252,265. Property tax rates in this area are influenced by local government budgets and the need to fund public services like schools and infrastructure. Homeowners in MART can expect a wide range of property tax bills. The 25th percentile tax bill is around $1,410, while those at the 75th percentile pay approximately $4,410. At the higher end, the 90th percentile tax bill can reach up to $11,126. The median property tax rate in MART is notably higher than the national median of 0.99%, reflecting the specific demands and budgetary requirements of Falls County. These property taxes significantly impact homeowners by influencing their annual expenses and potentially affecting the affordability of homeownership in the region.
Average Mart Tax Bill
$2,384
Average Falls County Tax Bill
$1,609
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | $975 | $1,410 | $2,384 | $4,410 | $11,126 |
Source: Ownwell