Fayetteville, Texas Property Taxes
The median property tax rate in Fayetteville, TX is 1.02%, slightly higher than the national median of 0.99% but significantly lower than the Texas state median of 1.67%. With the median home value in Fayetteville at $342,450, the typical annual property tax bill reaches $2,565, which is below the national median of $2,690. Property taxes in Fayetteville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fayetteville'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 Fayetteville 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
Fayetteville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$3,493
$3,241
Ownwell’s Fayetteville Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to easily estimate their annual property taxes in Fayetteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fayetteville to provide an estimate of 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 Fayette County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fayetteville, Texas
Property taxes in Fayetteville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayetteville is 1.02%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Fayetteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayetteville 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 Fayetteville's effective property tax rate to other counties in Texas and the national median. For comparison, the 78940 zip code has the highest median property tax rate of 1.02%, while the 78940 zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Fayetteville 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 Fayetteville Tax Rate
1.02%
Average Fayette County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayetteville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78940 | 0.14% | 0.40% | 1.02% | 1.31% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Fayetteville, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fayetteville, 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 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 Fayetteville, 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. For instance, the highest median tax bill in Fayetteville is $2,565, found in zip code 78940, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fayetteville Assessed Value
$342,450
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 Fayetteville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78940 | $62,148 | $174,180 | $342,450 | $669,130 | $1,329,082 |
Source: Ownwell
Property Tax Bills Across Fayetteville, Texas
In Fayetteville, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This valuation is influenced by factors such as the home's market value, its condition, and comparable property sales in the area. Once the assessed value is established, the tax rate set by local taxing authorities is applied to calculate the annual tax bill. For homeowners in Fayetteville, the median home price is $342,450. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $1,275, while the 75th percentile tax bill reaches $4,052. At the higher end, the 90th percentile tax bill is $5,549. These figures show a range of tax liabilities that can impact homeowners differently depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Fayetteville's property tax rates can lead to substantial annual tax bills. Understanding these calculations can help homeowners anticipate their financial obligations and plan accordingly.
Average Fayetteville Tax Bill
$2,565
Average Fayette County Tax Bill
$2,303
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayetteville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78940 | $426 | $1,275 | $2,565 | $4,052 | $5,549 |
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 |