Carmine, Texas Property Taxes
The median property tax rate in Carmine, TX is 0.96%, 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 Carmine at $266,880, the typical annual property tax bill reaches $2,365, which is less than the national median of $2,690. Property taxes in Carmine are calculated based on the tax assessed value, often below market value due to exemptions such as primary residence and agricultural exemptions. Understanding Carmine'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 Carmine 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
Carmine, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,562
$2,371
Ownwell’s Carmine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carmine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carmine 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 Carmine, Texas
Property taxes in Carmine, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carmine is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Carmine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carmine 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 Carmine's effective property tax rate to other counties in Texas and the national median. For comparison, the 78932 zip code has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Carmine provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carmine Tax Rate
0.96%
Average Fayette County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carmine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78932 | 0.32% | 0.69% | 0.96% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Carmine, Texas
In Carmine, 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 Fayette 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 Carmine, 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 Carmine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Carmine is $266,880, with the highest median tax bill in the 78932 zip code at $2,365.
Average Carmine Assessed Value
$266,880
Average Fayette County Assessed Value
$251,650
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carmine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78932 | $49,971 | $132,180 | $266,880 | $466,552 | $1,057,304 |
Source: Ownwell
Property Tax Bills Across Carmine, Texas
In Carmine, located in Fayette County, TX, property tax bills are calculated based on the assessed value of the home and the applicable tax rate. The median home price in Carmine is $266,880. Tax authorities assess the property's value and apply the local tax rate to determine the annual tax bill. For homeowners in Carmine, the 25th percentile of tax bills is approximately $1,262, while the 75th percentile reaches around $3,867. At the 90th percentile, homeowners can expect to pay up to $5,504 annually. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Carmine's property tax rates can vary widely, affecting homeowners differently based on their property's assessed value. Understanding these factors can help homeowners better anticipate their annual expenses and plan accordingly.
Average Carmine Tax Bill
$2,365
Average Fayette County Tax Bill
$2,303
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Carmine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78932 | $476 | $1,262 | $2,365 | $3,867 | $5,504 |
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 | |
|---|---|
| Fayette Appraisal District | |
| Website | esearch.fayettecad.org |