Sherman, Texas Property Taxes
The median property tax rate in Sherman, TX is 2.31%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Sherman at $176,472, the typical annual property tax bill reaches $4,040, exceeding the national median of $2,690. Property taxes in Sherman 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 Sherman'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 Sherman 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
Sherman, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$4,077
$3,783
$1,148
Average Tax Savings
Ownwell’s Sherman Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Sherman. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Sherman to provide an accurate estimate of your property tax bill. This tool not only clarifies your potential tax liabilities but also demonstrates how Ownwell can help reduce property taxes in Sherman. For those interested in more detailed trends on a neighborhood level, further localized information is available below. Your property's assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Sherman, Texas
Property taxes in Sherman, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sherman is 2.31%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Sherman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sherman 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 Sherman's effective property tax rate to other counties in Texas and the national median. For comparison, the 75076 zip code has the highest median property tax rate of 7.93%, while the 76273 zip code has the lowest median tax rate of 2.12%. Understanding how these cities compare with Sherman provides valuable insights into the varying tax landscape across Grayson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sherman Tax Rate
2.31%
Average Grayson County Tax Rate
2.09%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sherman, Texas
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
75020 | 2.27% | 2.86% | 3.83% | 4.81% | 5.40% |
75021 | N/A | N/A | N/A | N/A | N/A |
75076 | 1.68% | 4.02% | 7.93% | 11.83% | 14.17% |
75090 | 1.11% | 1.58% | 2.24% | 2.66% | 3.19% |
75091 | 3.23% | 3.23% | 3.23% | 3.23% | 3.23% |
75092 | 1.57% | 2.02% | 2.33% | 2.57% | 2.91% |
75414 | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% |
75459 | 3.19% | 3.83% | 4.90% | 5.96% | 6.60% |
76273 | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% |
Source: Ownwell
$1,148
Average Sherman Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Sherman, Texas
In Sherman, 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 Grayson 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 Sherman, 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. The median home price in Sherman is $176,472. 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 example, the highest median tax bill in Sherman is found in the 75459 zip code at $10,447, while the lowest is in the 76273 zip code at just $297. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sherman Assessed Value
$176,472
Average Grayson County Assessed Value
$177,813
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sherman, Texas
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
75020 | $56,409 | $123,568 | $235,500 | $347,431 | $414,590 |
75021 | N/A | N/A | N/A | N/A | N/A |
75076 | $113,961 | $170,734 | $265,354 | $359,974 | $416,747 |
75090 | $38,092 | $91,594 | $138,398 | $205,506 | $351,960 |
75091 | $206,067 | $206,067 | $206,067 | $206,067 | $206,067 |
75092 | $81,184 | $151,025 | $229,540 | $310,787 | $423,120 |
75414 | $23,737 | $23,737 | $23,737 | $23,737 | $23,737 |
75459 | $165,646 | $205,028 | $270,664 | $336,299 | $375,681 |
76273 | $14,028 | $14,028 | $14,028 | $14,028 | $14,028 |
Source: Ownwell
$1,148
Average Sherman Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Sherman, Texas
In Sherman, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. For example, with a median home price of $176,472, homeowners can expect tax bills ranging from $2,413 at the 25th percentile to $8,423 at the 90th percentile. The highest median tax bill in Grayson County is $10,447 in the 75459 zip code, while the lowest is $297 in the 76273 zip code. Several factors influence these tax bills, including property size, location, and improvements. High property taxes can significantly impact homeowners, making it crucial to ensure your assessment is fair. Ownwell assists homeowners in Sherman by providing expert property tax appeal and exemption services. Our team reviews your property's assessed value and identifies opportunities to lower your tax bill. By leveraging our local expertise and understanding of tax regulations, we help you achieve substantial savings, ensuring you only pay your fair share.
Average Sherman Tax Bill
$4,040
Average Grayson County Tax Bill
$3,777
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Sherman, Texas
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
75020 | $1,469 | $2,661 | $4,649 | $6,637 | $7,830 |
75021 | N/A | N/A | N/A | N/A | N/A |
75076 | $1,688 | $3,403 | $6,261 | $9,119 | $10,834 |
75090 | $941 | $1,891 | $3,121 | $4,640 | $6,747 |
75091 | $6,662 | $6,662 | $6,662 | $6,662 | $6,662 |
75092 | $1,851 | $3,467 | $5,237 | $7,205 | $9,418 |
75414 | $534 | $534 | $534 | $534 | $534 |
75459 | $9,930 | $10,124 | $10,447 | $10,770 | $10,964 |
76273 | $297 | $297 | $297 | $297 | $297 |
Source: Ownwell
$1,148
Average Sherman Tax Savings
Save on your property taxes & more with 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 | |
---|---|
Grayson Appraisal District | |
Website | esearch.graysonappraisal.org |
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