Driftwood, Texas Property Taxes
The median property tax rate in Driftwood, TX, is 1.22%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value in Driftwood of $996,765, the typical annual property tax bill amounts to $11,864, significantly surpassing the national median of $2,690. Property taxes in Driftwood are based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Grasping the nuances of Driftwood's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can lead to substantial annual savings. Whether you reside in Driftwood or another part of Hays County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Driftwood, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$12,161
$11,285
$1,148
Average Tax Savings
Ownwell’s Driftwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Driftwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Driftwood to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Driftwood. 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 Driftwood, Texas
Property taxes in Driftwood, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Driftwood is 1.22%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Driftwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Driftwood 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 Driftwood's effective property tax rate to other counties in Texas and the national median. For comparison, the 78619 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Driftwood provides valuable insights into the varying tax landscape across Hays County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Driftwood Tax Rate
1.22%
Average Hays County Tax Rate
1.71%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Driftwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78619 | 0.74% | 1.06% | 1.22% | 1.51% | 1.67% |
Source: Ownwell
$1,148
Average Driftwood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Driftwood, Texas
In Driftwood, 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 Hays 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 Driftwood, 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. Driftwood's median home price stands at $996,765, with property tax bills ranging significantly. For instance, the 25th percentile tax bill is $7,817, while the 75th percentile tax bill reaches $15,113. The highest median tax bill in the area is $11,864 in the 78619 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Driftwood Assessed Value
$996,765
Average Hays County Assessed Value
$409,280
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Driftwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78619 | $359,905 | $700,990 | $996,765 | $1,241,168 | $1,614,016 |
Source: Ownwell
$1,148
Average Driftwood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Driftwood, Texas
In Driftwood, located in Hays County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. With a median home price of $996,765, homeowners in Driftwood can expect varying tax bills. The 25th percentile tax bill is approximately $7,817, while the 75th percentile reaches around $15,113. For those in the 90th percentile, the tax bill can soar to about $19,550. The highest median tax bill in Driftwood's 78619 zip code is $11,864, which matches the lowest median tax bill, indicating a consistent tax rate across the region. Factors such as property size, location, and market conditions play a significant role in determining your tax bill. High property taxes can place a financial strain on homeowners, but that's where Ownwell comes in. By leveraging expert knowledge and experience, Ownwell helps homeowners appeal their property assessments and secure exemptions, potentially saving them significant amounts on their annual tax bills.
Average Driftwood Tax Bill
$11,864
Average Hays County Tax Bill
$7,200
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Driftwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78619 | $3,380 | $7,817 | $11,864 | $15,113 | $19,550 |
Source: Ownwell
$1,148
Average Driftwood 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 | |
|---|---|
| Hays Appraisal District | |
| Website | esearch.hayscad.com |
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