Ivanhoe, Texas Property Taxes
The median property tax rate in Ivanhoe, TX is 0.98%, slightly below the national median of 0.99% and significantly lower than the Texas state median of 1.67%. With the median home value in Ivanhoe at $226,420, the typical annual property tax bill is around $1,900, which is less than the national median of $2,690. Property taxes in Ivanhoe are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Ivanhoe'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 Ivanhoe 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
Ivanhoe, 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 Ivanhoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ivanhoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ivanhoe 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 Ivanhoe, Texas
Property taxes in Ivanhoe, Texas, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ivanhoe is 0.98%, which is slightly lower than the Texas state median of 1.81% but very close to the U.S. national median of 0.99%. Local government entities within Ivanhoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ivanhoe 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 Ivanhoe's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 75447 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Ivanhoe provides valuable insights into the varying tax landscape across Fannin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ivanhoe Tax Rate
0.98%
Average Fannin County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ivanhoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75447 | 0.34% | 0.70% | 0.98% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Ivanhoe, Texas
In Ivanhoe, 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 Fannin 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 Ivanhoe, 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 Ivanhoe is $226,420, and homeowners can expect tax bills ranging from $1,104 at the 25th percentile to $5,037 at the 90th percentile. The zip code with the highest and lowest median tax bill is 75447, both at $1,900. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ivanhoe Assessed Value
$226,420
Average Fannin County Assessed Value
$196,430
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ivanhoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75447 | $65,759 | $129,432 | $226,420 | $444,205 | $749,525 |
Source: Ownwell
Property Tax Bills Across Ivanhoe, Texas
In Ivanhoe, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of your property. Homeowners in Ivanhoe, located in Fannin County, face a median property tax rate that is influenced by various factors, including property type, location, and market trends. For example, with a median home price of $226,420, the property tax bill can vary significantly. The 25th percentile tax bill is around $1,104, while the 75th percentile tax bill is approximately $3,207. At the higher end, the 90th percentile tax bill reaches up to $5,037. This variation highlights the impact of property value assessments and local tax rates on the overall tax burden. Compared to the national median property tax rate of 0.99%, Ivanhoe's rates can be more or less burdensome depending on specific property characteristics. Understanding these factors helps homeowners anticipate their annual tax liabilities and plan their finances accordingly.
Average Ivanhoe Tax Bill
$1,900
Average Fannin County Tax Bill
$2,400
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ivanhoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75447 | $523 | $1,104 | $1,900 | $3,207 | $5,037 |
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 |