Bonham, Fannin County, Texas Property Taxes
Median Bonham, TX effective property tax rate: 1.41%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Bonham, TX home value: $180,000
Median annual Bonham, TX tax bill: $2,465, $65 higher than the national median property tax bill of $2,400.
How are property taxes in Fannin County calculated?
Property taxes in Bonham, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Bonham’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bonham, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bonham, Fannin County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.41%
Estimate Property Tax Bill
$2,538
$2,355
Ownwell’s Bonham Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bonham with just two data points.
By entering your property's estimated assessed value, our calculator applies Bonham’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Fannin County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Bonham, Fannin County, Texas
Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is essentially the annual process.
In Bonham, located in Fannin County, TX, the property tax landscape reflects this intricate process. Bonham's effective property tax rate stands at 1.41%, which is higher than the national median property tax rate of 1.02%. This rate is consistent across Fannin County, as Bonham shares the same rate with other areas in the region. Compared to the national median property tax bill of $2,400, property owners in Bonham may find their tax bills to be higher due to this elevated rate. Understanding these rates can help property owners in Bonham anticipate their annual tax obligations and explore potential property tax appeal and exemption services to reduce their financial burden.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bonham Tax Rate
1.41%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Fannin County Tax Rate
1.33%
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bonham, Fannin County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75418 | 0.78% | 1.13% | 1.41% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Bonham, Fannin County, Texas
When examining property taxes in Bonham, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fannin County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Fannin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Bonham. For example, the median home price in Bonham is $180,000, with tax bills ranging significantly across the county. 75418 has the highest median home price at $180,000.
Property Tax Assessment Values Across Bonham, Fannin County, Texas
Source: Ownwell
$79,905
$232,343
$384,780
Median Bonham Market Value
$180,000
Median Fannin County Market Value
$196,430
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bonham, Fannin County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75418 | $62,024 | $99,300 | $180,000 | $303,890 | $487,652 |
Source: Ownwell
Property Tax Bills Across Bonham, Fannin County, Texas
In Bonham, located in Fannin County, TX, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, and the tax rate is set by local taxing authorities. Homeowners in Bonham face a median property tax bill of $2,465, which is slightly above the national median of $2,400. This can place a financial strain on homeowners, especially when factoring in other household expenses. The range of tax bills varies significantly, with the 25th percentile at $1,441 and the 90th percentile reaching $5,774, highlighting the diversity in property values and corresponding tax burdens within the area.
Ownwell assists homeowners by evaluating their property assessments and ensuring they are fair and accurate. By identifying discrepancies or overvaluations, Ownwell can help reduce the property tax burden. This service is crucial for homeowners looking to manage their expenses effectively and ensure they are not overpaying on their property taxes.
Median Bonham Tax Bill
$2,465
Median Fannin County Tax Bill
$2,400
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Bonham, Fannin County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75418 | $827 | $1,441 | $2,465 | $4,079 | $5,774 |
Source: 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 | |
|---|---|
| Fannin Appraisal District | |
| Website | esearch.fannincad.org |