Palestine, Texas Property Taxes
The median property tax rate in Palestine, TX is 0.68%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Palestine at $118,163, the typical annual property tax bill amounts to $624, which is well below the national median of $2,690. Property taxes in Palestine are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural land. Gaining a thorough understanding of Palestine's property tax system, exploring the available exemptions, and identifying potential opportunities for tax reductions can lead to notable annual savings. Whether you're located in the heart of Palestine or another part of Henderson County, being well-versed in the local property tax system can greatly benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palestine, 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 Palestine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palestine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palestine 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 Palestine, Texas
Property taxes in Palestine, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palestine is 0.68%, lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Palestine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palestine 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 Palestine's effective property tax rate to other counties in Texas and the national median. For comparison, the 75803 zip code has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Palestine provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palestine Tax Rate
0.68%
Average Henderson County Tax Rate
1.40%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palestine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75803 | 0.14% | 0.34% | 0.68% | 1.33% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Palestine, Texas
In Palestine, 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 Henderson 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 Palestine, 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, the median property tax bill in Palestine is notably lower than the national median property tax rate of 0.99%, with the 25th percentile tax bill at $238 and the 75th percentile at $1233. The highest and lowest median tax bills are both found in the 75803 zip code, standing at $624. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Palestine Assessed Value
$118,163
Average Henderson County Assessed Value
$139,776
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palestine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75803 | $16,158 | $38,815 | $118,163 | $251,011 | $345,157 |
Source: Ownwell
Property Tax Bills Across Palestine, Texas
In Palestine, Henderson County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions are considered in this calculation. Homeowners in Palestine experience a range of property tax bills; the 25th percentile tax bill is approximately $238, while the 75th percentile reaches around $1,233. At the higher end, the 90th percentile tax bill can be as much as $3,807. The median tax bill in the area is $624, which is below the national median property tax rate of 0.99%. These property tax bills can significantly impact homeowners, influencing their monthly mortgage payments and overall housing affordability. Understanding these factors helps homeowners better anticipate and manage their annual expenses.
Average Palestine Tax Bill
$624
Average Henderson County Tax Bill
$1,470
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Palestine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75803 | $74 | $238 | $624 | $1,233 | $3,807 |
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 | |
|---|---|
| Henderson Appraisal District | |
| Website | esearch.henderson-cad.org |