Oquinn, Texas Property Taxes
The median property tax rate in O'Quinn, TX is 0.80%, noticeably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in O'Quinn at $187,805, the typical annual property tax bill amounts to $1,029, which is significantly below the national median of $2,690. Property taxes in O'Quinn 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 O'Quinn'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 O'Quinn 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
Oquinn, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,502
$1,390
Ownwell’s OQUINN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in OQUINN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in OQUINN 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 Oquinn, Texas
Property taxes in O'Quinn, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in O'Quinn is 1.65%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within O'Quinn set these rates annually, and they can vary significantly across different neighborhoods. Each year, O'Quinn 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 O'Quinn's effective property tax rate to other counties in Texas and the national median. For comparison, the 78945 zip code has the highest median property tax rate of 1.65%, while the 78945 zip code also has the lowest median tax rate of 1.65%. Understanding how these cities compare with O'Quinn 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 Oquinn Tax Rate
0.80%
Average Fayette County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oquinn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78945 | 0.45% | 0.58% | 0.80% | 1.02% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Oquinn, Texas
In Oquinn, 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 Oquinn, 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 and lowest median tax bills in Oquinn are both $1029, found in the 78945 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oquinn Assessed Value
$187,805
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 Oquinn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78945 | $102,321 | $134,378 | $187,805 | $241,232 | $273,289 |
Source: Ownwell
Property Tax Bills Across Oquinn, Texas
In O'Quinn, located in Fayette County, TX, property tax bills are determined by several key factors. The local tax rate, which is applied to the assessed value of a property, plays a significant role. With a median home price of $187,805, homeowners in O'Quinn can expect their property tax bills to be influenced by this valuation. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the local tax rate to calculate the tax owed. For homeowners in O'Quinn, the tax bills can vary. The 25th percentile tax bill is around $1,015, while the 75th percentile tax bill reaches approximately $1,044. At the 90th percentile, it goes up to $1,052. These figures indicate that most homeowners in the area face tax bills within this range. The property tax rate in O'Quinn is slightly above the national median rate of 0.99%, which can impact the overall affordability and financial planning for residents. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Oquinn Tax Bill
$1,029
Average Fayette County Tax Bill
$2,303
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Oquinn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78945 | $1,006 | $1,015 | $1,029 | $1,044 | $1,052 |
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 |