Quitaque, Texas Property Taxes
The median property tax rate in Quitaque, TX is 1.72%, which is significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Quitaque at $28,920, the typical annual property tax bill reaches $497, still well below the national median of $2,690. Property taxes in Quitaque are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Quitaque'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 Quitaque 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
Quitaque, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$497
$462
Ownwell’s Quitaque Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quitaque with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quitaque 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 Quitaque, Texas
Property taxes in Quitaque, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quitaque is 1.72%, higher than both the Texas state median of 1.69% and the U.S. national median of 0.99%. Local government entities within Quitaque set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quitaque 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 Quitaque's effective property tax rate to other counties in Texas and the national median. For comparison, the 79255 zip code has the highest median property tax rate of 1.72%, while the 79255 zip code has the lowest median tax rate of 1.72%. Understanding how these cities compare with Quitaque provides valuable insights into the varying tax landscape across Floyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quitaque Tax Rate
1.72%
Average Floyd County Tax Rate
2.66%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quitaque, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79255 | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Quitaque, Texas
In Quitaque, 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 Floyd 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 Quitaque, 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 Quitaque helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $497 in the 79255 zip code, which also has the lowest median tax bill of $497.
Average Quitaque Assessed Value
$28,920
Average Floyd County Assessed Value
$41,590
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quitaque, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79255 | $16,544 | $17,720 | $28,920 | $52,800 | $74,550 |
Source: Ownwell
Property Tax Bills Across Quitaque, Texas
In Quitaque, located in Floyd County, TX, property tax bills are calculated based on the assessed value of a home. The median home price in Quitaque is $28,920. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors influencing the tax bill include the property's assessed value and the specific tax rate set by local authorities. Homeowners in Quitaque can expect their annual property tax bills to vary significantly. The 25th percentile of tax bills is around $305, while the 75th percentile reaches up to $907. For those in the 90th percentile, tax bills can go as high as $1,281. The highest median tax bill in the area is $497, which is relatively modest compared to the national median property tax rate of 0.99%. These figures highlight the range of property tax burdens homeowners might face, impacting their annual financial planning and overall cost of living.
Average Quitaque Tax Bill
$497
Average Floyd County Tax Bill
$983
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Quitaque, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79255 | $284 | $305 | $497 | $907 | $1,281 |
Source: Ownwell