Tatum, Texas Property Taxes
The median property tax rate in Tatum, TX is 1.01%, slightly higher than the national median of 0.99% but significantly lower than the Texas state median of 1.67%. With the median home value in Tatum at $63,150, the typical annual property tax bill amounts to $640, which is well below the national median of $2,690. Property taxes in Tatum are calculated based on the tax assessed value, often lower than market value due to exemptions like primary residence and agricultural exemptions. Understanding Tatum'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 Tatum 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
Tatum, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Tatum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tatum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tatum 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 Tatum, Texas
Property taxes in Tatum, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tatum is 1.01%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Tatum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tatum 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 Tatum's effective property tax rate to other counties in Texas and the national median. For comparison, the 75691 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Tatum provides valuable insights into the varying tax landscape across Gregg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tatum Tax Rate
1.01%
Average Gregg County Tax Rate
1.04%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tatum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75691 | 0.25% | 0.43% | 1.01% | 1.38% | 10.05% |
Source: Ownwell
Property Tax Assessment Values Across Tatum, Texas
In Tatum, 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 Gregg 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 Tatum, 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 Tatum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 75691 in Tatum has the highest and lowest median tax bill at $640. By understanding these factors, Tatum residents can take proactive steps to manage their property taxes effectively.
Average Tatum Assessed Value
$63,150
Average Gregg County Assessed Value
$177,200
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tatum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75691 | $19,836 | $46,320 | $63,150 | $99,940 | $155,503 |
Source: Ownwell
Property Tax Bills Across Tatum, Texas
In Tatum, located in Gregg County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local appraisal district and reflects the market value of the property. Homeowners in Tatum can expect a property tax bill that varies depending on the assessed value and the tax rate set by local taxing authorities. For instance, the median home price in Tatum is $63,150. Property tax bills in this area range widely, with the 25th percentile at $480 and the 75th percentile reaching up to $1,175. Even at the 90th percentile, the tax bill stands at $1,337. These figures show how tax bills can vary significantly depending on the assessed value and applicable tax rates. Compared to the national median property tax rate of 0.99%, Tatum's property tax rates can be relatively affordable, providing some financial relief to homeowners. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their finances effectively.
Average Tatum Tax Bill
$640
Average Gregg County Tax Bill
$1,405
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Tatum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75691 | $119 | $480 | $640 | $1,175 | $1,337 |
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 | |
|---|---|
| Gregg Appraisal District | |
| Website | esearch.gcad.org |