Lakeview, Texas Property Taxes
The median property tax rate in Lakeview, TX is 2.05%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $29,630 in Lakeview, the typical annual property tax bill amounts to $606, which is below the national median of $2,690. Property taxes in Lakeview are calculated based on the tax assessed value, which can be lower than the market value due to exemptions such as those for primary residences and agricultural land. Navigating Lakeview'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 Lakeview or another part of Hall County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakeview, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.05%
Estimate Property Tax Bill
$607
$562
Ownwell’s Lakeview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeview 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 Lakeview, Texas
Property taxes in Lakeview, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeview stands at 2.05%, which is significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lakeview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeview 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 Lakeview's effective property tax rate to other counties in Texas and the national median. For comparison, the 79239 zip code has the highest median property tax rate of 2.05%, while the same zip code also has the lowest median tax rate of 2.05%. Understanding how these cities compare with Lakeview provides valuable insights into the varying tax landscape across Hall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeview Tax Rate
2.05%
Average Hall County Tax Rate
2.18%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeview, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79239 | 1.79% | 2.05% | 2.05% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Lakeview, Texas
In Lakeview, 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 Hall 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 Lakeview, 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, in Lakeview, the highest median tax bill is found in the 79239 zip code, amounting to $606. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeview Assessed Value
$29,630
Average Hall County Assessed Value
$39,840
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeview, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79239 | $12,194 | $14,710 | $29,630 | $84,000 | $101,816 |
Source: Ownwell
Property Tax Bills Across Lakeview, Texas
In Lakeview, Hall County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Lakeview is $29,630, significantly lower than the national median, impacting the overall tax burden for homeowners. Tax rates are applied to the assessed value to determine the annual tax bill. For Lakeview, the tax bill at the 25th percentile is $289, while at the 75th percentile, it is $1,586. At the 90th percentile, homeowners can expect to pay around $2,058. Factors influencing the tax bill include property size, location, and any applicable exemptions. These property taxes fund local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Lakeview's tax rates reflect the community's economic landscape. Homeowners in this area benefit from relatively lower tax bills, which can make homeownership more affordable and financially manageable.
Average Lakeview Tax Bill
$606
Average Hall County Tax Bill
$854
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeview, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79239 | $249 | $289 | $606 | $1,586 | $2,058 |
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 | |
|---|---|
| Hall Appraisal District | |
| Website | www.hallcad.org |