Smithville, Texas Property Taxes
The median property tax rate in Smithville, TX is 1.24%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $180,365 in Smithville, the typical annual property tax bill amounts to $1,617, which is below the national median of $2,690. Property taxes in Smithville are calculated based on the tax assessed value, usually lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Smithville'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 Smithville or another part of Fayette County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Smithville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$2,237
$2,070
Ownwell’s Smithville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smithville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithville 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 Smithville, Texas
Property taxes in Smithville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smithville is 1.24%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Smithville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithville 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 Smithville's effective property tax rate to other counties in Texas and the national median. For comparison, the 78957 zip code has the highest median property tax rate of 1.24%, while the 78957 zip code has the lowest median tax rate of 1.24%. Understanding how these cities compare with Smithville 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 Smithville Tax Rate
1.24%
Average Fayette County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smithville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78957 | 0.24% | 0.60% | 1.24% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Smithville, Texas
In Smithville, 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 Smithville, 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 instance, the median home price in Smithville is $180,365, with tax bills ranging from $525 at the 25th percentile to $4,778 at the 90th percentile. The highest and lowest median tax bills both stand at $1,617 in the 78957 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 Smithville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Smithville Assessed Value
$180,365
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 Smithville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78957 | $7,495 | $52,610 | $180,365 | $372,372 | $970,606 |
Source: Ownwell
Property Tax Bills Across Smithville, Texas
In Smithville, located in Fayette County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Smithville is $180,365. Property taxes are determined by multiplying the assessed home value by the local property tax rate. For example, with a median tax bill of $1,617, homeowners can expect to pay around this amount annually. However, tax bills can vary significantly. At the 25th percentile, homeowners might pay approximately $525, while those in the 75th percentile could see bills around $3,247. For the highest 10% of tax bills, amounts can reach up to $4,778. These variations depend on factors such as home value, local tax rates, and applicable exemptions. Understanding these factors is crucial for homeowners as property taxes represent a significant portion of annual expenses, influencing overall affordability and financial planning.
Average Smithville Tax Bill
$1,617
Average Fayette County Tax Bill
$2,303
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78957 | $84 | $525 | $1,617 | $3,247 | $4,778 |
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 |