Wortham, Texas Property Taxes
The median property tax rate in Wortham, TX is 1.10%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $98,414 in Wortham, the typical annual property tax bill amounts to $902, which is below the national median of $2,690. Property taxes in Wortham are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Wortham'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 Wortham 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
Wortham, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,083
$1,002
Ownwell’s Wortham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wortham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wortham 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 Wortham, Texas
Property taxes in Wortham, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wortham is 1.10%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Wortham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wortham 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 Wortham's effective property tax rate to other counties in Texas and the national median. For comparison, the 76693 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Wortham provides valuable insights into the varying tax landscape across Freestone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wortham Tax Rate
1.10%
Average Freestone County Tax Rate
1.02%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wortham, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76693 | 0.29% | 0.55% | 1.10% | 1.70% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Wortham, Texas
In Wortham, 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 Freestone 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 Wortham, 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 Wortham is $98,414, with tax bills varying widely; the 25th percentile tax bill is $336, while the 75th percentile reaches $1,712. 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 Wortham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wortham Assessed Value
$98,414
Average Freestone County Assessed Value
$117,090
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wortham, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76693 | $11,501 | $46,438 | $98,414 | $167,784 | $338,434 |
Source: Ownwell
Property Tax Bills Across Wortham, Texas
In Wortham, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The median home price in Wortham stands at $98,414. Property taxes are determined by multiplying this assessed value by the local tax rate set by Freestone County authorities. For instance, a homeowner in the 25th percentile might pay around $336 annually, while those in the 75th percentile could see bills as high as $1,712. At the 90th percentile, the tax bill can escalate to $2,882. The property tax rate in Wortham is influenced by various factors including local government budgets, school funding needs, and public services. Compared to the national median property tax rate of 0.99%, Wortham's rates can vary significantly but are generally reflective of the local economic environment. Homeowners in Wortham should be aware that these taxes directly impact their annual financial planning, influencing everything from mortgage payments to disposable income.
Average Wortham Tax Bill
$902
Average Freestone County Tax Bill
$1,013
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wortham, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76693 | $109 | $336 | $902 | $1,712 | $2,882 |
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 | |
|---|---|
| Freestone Appraisal District | |
| Website | propertysearch.freestonecad.org |