Iola, Grimes County, Texas Property Taxes
Median Iola, TX effective property tax rate: 1.49%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Iola, TX home value: $116,200
Median annual Iola, TX tax bill: $1,984, $416 lower than the national median property tax bill of $2,400.
How are property taxes in Grimes calculated?
Property taxes in Iola, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Iola’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Iola, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Iola, Grimes County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.49%
Estimate Property Tax Bill
$1,731
$1,607
Property Tax Rates Across Iola, Grimes County, Texas
Local government entities determine property tax rates, which can differ significantly within a state. Each year, counties calculate their required budget to maintain services and divide this by the total value of all taxable property within their jurisdiction. This process establishes the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the essence of the annual procedure.
In Iola, located in Grimes County, the effective property tax rate is a crucial factor for property owners. When comparing Iola's rate to other cities in Texas, it's essential to consider the state's median property tax rate, which stands at 1.49%. This figure is notably higher than the national median of 1.02%.
Understanding these differences is vital for property owners who wish to manage their tax liabilities effectively. By analyzing these rates, property owners can make informed decisions about appealing their property taxes or seeking exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Iola Tax Rate
1.49%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Grimes County Tax Rate
1.58%
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Iola, Grimes County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77861 | 1.31% | 1.39% | 1.49% | 1.68% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Iola, Grimes County, Texas
When examining property taxes in Iola, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Grimes County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Grimes County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Iola. For example, the median home price in Iola is $116,200, with tax bills ranging significantly across the county. Zip code 77861 has the highest median home price at $116,200.
Property Tax Assessment Values Across Iola, Grimes County, Texas
Source: Ownwell
$22,725
$219,405
$416,085
Median Iola Market Value
$116,200
Median Grimes County Market Value
$49,760
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Iola, Grimes County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77861 | $20,740 | $53,420 | $116,200 | $292,440 | $544,518 |
Source: Ownwell
Property Tax Bills Across Iola, Grimes County, Texas
Median Iola Tax Bill
$1,984
Median Grimes County Tax Bill
$808
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Iola, Grimes County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77861 | $299 | $837 | $1,984 | $4,899 | $8,203 |
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 | |
|---|---|
| Grimes Appraisal District | |
| Website | grimescad.org |