Alanreed, Texas Property Taxes
The median property tax rate in Alanreed, TX is 1.42%, which is notably higher than the national median of 0.99%, but lower than the Texas state median of 1.67%. With a median home value of $77,495 in Alanreed, the typical annual property tax bill amounts to $849, which is significantly below the national median of $2,690. Property taxes in Alanreed are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Alanreed's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Alanreed or another part of Gray County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alanreed, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,100
$1,021
Ownwell’s Alanreed Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alanreed with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alanreed to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Alanreed, Texas
Property taxes in Alanreed, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alanreed is 1.42%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Alanreed set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alanreed 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 Alanreed's effective property tax rate to other counties in Texas and the national median. For comparison, the 79002 zip code has the highest median property tax rate of 1.42%, while the same zip code has the lowest median tax rate of 1.42%. Understanding how these cities compare with Alanreed provides valuable insights into the varying tax landscape across Gray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alanreed Tax Rate
1.42%
Average Gray County Tax Rate
2.61%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alanreed, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79002 | 1.16% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Alanreed, Texas
In Alanreed, 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 Gray 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. Assessment notices in Alanreed 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 Alanreed helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Alanreed is $77,495, with tax bills ranging from $385 at the 25th percentile to $2,250 at the 90th percentile. The zip code 79002 has both the highest and lowest median tax bill at $849.
Average Alanreed Assessed Value
$77,495
Average Gray County Assessed Value
$47,170
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alanreed, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79002 | $15,175 | $27,108 | $77,495 | $133,178 | $158,385 |
Source: Ownwell
Property Tax Bills Across Alanreed, Texas
Property tax bills in Alanreed, located in Gray County, TX, are calculated based on the assessed value of a property and the local tax rate. The median home price in Alanreed is $77,495. Homeowners can expect their property tax bill to vary significantly depending on their property's assessed value. For instance, the 25th percentile tax bill is around $385, while the 75th percentile tax bill reaches up to $1,766. At the 90th percentile, the tax bill can be as high as $2,250. These variations are influenced by multiple factors, including property size, location, and any improvements made to the home. The local tax rate is applied to the assessed value to determine the total tax bill. This can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners in Alanreed better anticipate their annual property tax expenses and plan accordingly.
Average Alanreed Tax Bill
$849
Average Gray County Tax Bill
$1,100
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Alanreed, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79002 | $216 | $385 | $849 | $1,766 | $2,250 |
Source: Ownwell