Canadian, Hemphill County, Texas Property Taxes
The median property tax rate in Canadian, TX is 2.65%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Canadian, the typical annual property tax bill reaches $1,716, exceeding the national median of $2,690. Property taxes in Canadian 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 Canadian'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 Canadian 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
Canadian, Hemphill County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$1,861
$1,727
Ownwell’s Canadian Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canadian with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canadian 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 Canadian, Hemphill County, Texas
Property taxes in Canadian, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canadian is 2.65%, significantly higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Canadian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canadian 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 Canadian's effective property tax rate to other counties in Texas and the national median. For comparison, the 79014 zip code has both the highest and lowest median property tax rate of 2.65%. Understanding how these cities compare with Canadian provides valuable insights into the varying tax landscape across Hemphill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canadian Tax Rate
2.65%
Average Hemphill County Tax Rate
2.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canadian, Hemphill County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79014 | 1.87% | 1.87% | 2.65% | 2.65% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Canadian, Hemphill County, Texas
In Canadian, 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 Hemphill 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 Canadian, 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 Canadian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Canadian is $70,230, with tax bills ranging from $650 at the 25th percentile to $4,530 at the 90th percentile. The highest and lowest median tax bills are both $1,716 in zip code 79014.
Property Tax Assessment Values Across Canadian, Hemphill County, Texas
Source: Ownwell
$70,230
$74,320
$78,410
Average Canadian Assessed Value
$70,230
Average Hemphill County Assessed Value
$70,510
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canadian, Hemphill County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79014 | $8,440 | $25,555 | $70,230 | $123,965 | $184,555 |
Source: Ownwell
Property Tax Bills Across Canadian, Hemphill County, Texas
In Canadian, located in Hemphill County, TX, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $70,230, homeowners can expect varying tax bills. The 25th percentile tax bill in Canadian is approximately $650, while the 75th percentile reaches around $2,973, and the 90th percentile can go up to $4,530. These figures indicate that property taxes can significantly impact homeowners, depending on the value of their property. Compared to the national median property tax rate of 0.99%, Hemphill County's tax rates may influence the overall affordability of homeownership in Canadian. Homeowners should be mindful of these factors when budgeting for their annual expenses, as property taxes are a crucial component of homeownership costs.
Average Canadian Tax Bill
$1,716
Average Hemphill County Tax Bill
$1,688
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Canadian, Hemphill County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79014 | $192 | $650 | $1,716 | $2,973 | $4,530 |
Source: Ownwell