Sumner, Texas Property Taxes
The median property tax rate in Sumner, TX is 0.64%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Sumner, the typical annual property tax bill amounts to $1,546, which is well below the national median of $2,690. Property taxes in Sumner are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sumner's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sumner 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
Sumner, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,674
$1,553
Ownwell’s Sumner Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Sumner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumner 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 Sumner, Texas
Property taxes in Sumner, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumner is 0.64%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Sumner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumner 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 Sumner's effective property tax rate to other counties in Texas and the national median. For comparison, the 75486 zip code has the highest median property tax rate of 0.64%, while the same 75486 zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Sumner 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 Sumner Tax Rate
0.64%
Average Fannin County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumner, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75486 | 0.55% | 0.59% | 0.64% | 0.70% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Sumner, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sumner, Texas. 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 Sumner, 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, the highest median tax bill in the area is $1,546 in the zip code 75486, while the lowest is also $1,546 in the same zip code. 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 Sumner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sumner Assessed Value
$261,485
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 Sumner, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75486 | $164,297 | $200,742 | $261,485 | $322,228 | $358,673 |
Source: Ownwell
Property Tax Bills Across Sumner, Texas
In Sumner, located in Fannin County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Fannin County Appraisal District, which evaluates the property's market value. Once the assessed value is established, the local tax rate is applied to this value to calculate the annual tax bill. For homeowners in Sumner, the median home price is $261,485. Property tax bills can vary significantly, with the 25th percentile at $1,304 and the 75th percentile at $1,787, reflecting differences in property values and applicable exemptions. The 90th percentile tax bill reaches $1,932, indicating higher-valued properties. Comparatively, Sumner's property tax rates and bills are influenced by Texas's overall property tax structure, which can be higher than the national median property tax rate of 0.99%. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and manage their finances effectively.
Average Sumner Tax Bill
$1,546
Average Fannin County Tax Bill
$2,400
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumner, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75486 | $1,159 | $1,304 | $1,546 | $1,787 | $1,932 |
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 |