Mclean, Texas Property Taxes
The median property tax rate in McLean, TX is 2.11%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in McLean at $23,445, the typical annual property tax bill reaches $457, exceeding the national median of $2,690. Property taxes in McLean are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding McLean'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 McLean 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
Mclean, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$495
$459
Ownwell’s McLean Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McLean with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McLean 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 Mclean, Texas
Property taxes in McLean, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McLean is 2.11%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within McLean set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLean 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 McLean's effective property tax rate to other counties in Texas and the national median. For comparison, the 79057 zip code has the highest median property tax rate of 2.11%, while the same zip code also has the lowest median tax rate of 2.11%. Understanding how these cities compare with McLean 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 Mclean Tax Rate
2.11%
Average Gray County Tax Rate
2.61%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mclean, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79057 | 1.42% | 1.71% | 2.11% | 2.11% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Mclean, Texas
In McLean, 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. In McLean, 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, McLean's highest median tax bill is $457 in the 79057 zip code, which is also the lowest. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mclean Assessed Value
$23,445
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 Mclean, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79057 | $9,330 | $14,770 | $23,445 | $60,092 | $105,000 |
Source: Ownwell
Property Tax Bills Across Mclean, Texas
Property tax bills in McLean, located in Gray County, TX, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. For homeowners in McLean, the median home price is $23,445, which is significantly lower than the national median. The tax rate in this region influences the final tax bill, which can vary within the community. For instance, the 25th percentile tax bill is $293, while the 75th percentile tax bill is $1,069, showing a wide range of tax burdens. At the 90th percentile, homeowners can expect to pay up to $1,758. The highest and lowest median tax bills in McLean are both recorded at $457, indicating some consistency in the tax assessments within the zip code 79057. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners must budget for these expenses, as they can significantly impact annual housing costs.
Average Mclean Tax Bill
$457
Average Gray County Tax Bill
$1,100
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mclean, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79057 | $186 | $293 | $457 | $1,069 | $1,758 |
Source: Ownwell