Telephone, Texas Property Taxes
The median property tax rate in TELEPHONE, TX is 0.94%, slightly below the national median of 0.99% and significantly lower than the Texas state median of 1.67%. With a median home value of $243,595 in TELEPHONE, the typical annual property tax bill amounts to $1,863, which is well below the national median of $2,690. Property taxes in TELEPHONE are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding TELEPHONE'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 TELEPHONE 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
Telephone, 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 TELEPHONE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TELEPHONE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TELEPHONE 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 Telephone, Texas
Property taxes in TELEPHONE, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in TELEPHONE is 0.94%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within TELEPHONE set these rates annually, and they can vary significantly across different neighborhoods. Each year, TELEPHONE 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 TELEPHONE's effective property tax rate to other counties in Texas and the national median. For comparison, the 75488 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with TELEPHONE 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 Telephone Tax Rate
0.94%
Average Fannin County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Telephone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75488 | 0.26% | 0.60% | 0.94% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Telephone, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in TELEPHONE, 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. Assessment notices in TELEPHONE 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 TELEPHONE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In TELEPHONE, the median home price is $243,595, with tax bills ranging from $998 at the 25th percentile to $5,218 at the 90th percentile. The zip code 75488 has the highest and lowest median tax bills at $1,863.
Average Telephone Assessed Value
$243,595
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 Telephone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75488 | $69,293 | $124,128 | $243,595 | $481,512 | $812,661 |
Source: Ownwell
Property Tax Bills Across Telephone, Texas
In TELEPHONE, located in Fannin County, TX, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in TELEPHONE is $243,595. Property taxes are calculated by multiplying the assessed value by the local tax rate, which can vary. Homeowners in TELEPHONE can expect property tax bills that range significantly. For instance, the 25th percentile tax bill is around $998, while the 75th percentile tax bill is approximately $3,356. In some cases, the tax bill can reach up to $5,218 for the 90th percentile. These property taxes fund essential local services such as schools, infrastructure, and public safety, directly impacting the community's quality of life. Homeowners should be aware of these factors as they significantly affect annual financial planning and the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, TELEPHONE's tax rates reflect the region's unique economic and infrastructural needs.
Average Telephone Tax Bill
$1,863
Average Fannin County Tax Bill
$2,400
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Telephone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75488 | $527 | $998 | $1,863 | $3,356 | $5,218 |
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 |