Ravenna, Texas Property Taxes
The median property tax rate in Ravenna, TX is 1.07%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $250,400 in Ravenna, the typical annual property tax bill amounts to $2,119, which is below the national median of $2,690. Property taxes in Ravenna are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Ravenna'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 Ravenna or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravenna, 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 Ravenna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenna 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 Ravenna, Texas
Property taxes in Ravenna, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravenna is 1.07%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Ravenna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravenna 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 Ravenna's effective property tax rate to other counties in Texas and the national median. For comparison, the 75476 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Ravenna 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 Ravenna Tax Rate
1.07%
Average Fannin County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravenna, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75476 | 0.37% | 0.73% | 1.07% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Ravenna, Texas
In Ravenna, 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 Ravenna, 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 Ravenna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ravenna is $2,119 in the 75476 zip code, while the lowest median tax bill also stands at $2,119 in the same zip code.
Average Ravenna Assessed Value
$250,400
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 Ravenna, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75476 | $60,616 | $123,030 | $250,400 | $462,010 | $675,458 |
Source: Ownwell
Property Tax Bills Across Ravenna, Texas
In Ravenna, situated in Fannin County, TX, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects a percentage of the market value of the property. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For Ravenna, the median home price is $250,400, which significantly influences the tax bill. Homeowners in Ravenna can expect tax bills that vary widely. For instance, the 25th percentile tax bill is $1,148, while the 75th percentile tax bill reaches $3,779. The 90th percentile tax bill is even higher at $5,598. These figures indicate a range of tax burdens depending on the property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Ravenna may find their tax rates to be competitive. However, the actual tax bill can still be a significant expense, impacting household budgets and financial planning.
Average Ravenna Tax Bill
$2,119
Average Fannin County Tax Bill
$2,400
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravenna, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75476 | $588 | $1,148 | $2,119 | $3,779 | $5,598 |
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 |