Penitas, Texas Property Taxes
The median property tax rate in Penitas, TX is 1.94%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $91,010 in Penitas, the typical annual property tax bill is $1,565, which is below the national median of $2,690. Property taxes in Penitas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Penitas'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 Penitas 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
Penitas, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$1,766
$1,638
$1,148
Average Tax Savings
Ownwell’s Penitas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Penitas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Penitas 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 Penitas. 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 Penitas, Texas
Property taxes in Penitas, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Penitas is 1.94%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Penitas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Penitas 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 Penitas's effective property tax rate to other counties in Texas and the national median. For comparison, the 78576 zip code has the highest median property tax rate of 1.94%, while the same zip code also has the lowest median tax rate of 1.94%. Understanding how these cities compare with Penitas provides valuable insights into the varying tax landscape across Hidalgo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Penitas Tax Rate
1.94%
Average Hidalgo County Tax Rate
1.72%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Penitas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78576 | 0.98% | 1.49% | 1.94% | 2.06% | 2.41% |
Source: Ownwell
$1,148
Average Penitas Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Penitas, Texas
In Penitas, 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 Hidalgo 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. 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, Penitas has a median home price of $91,010, with tax bills ranging from $1,091 at the 25th percentile to $4,161 at the 90th percentile. The zip code 78576 has both the highest and lowest median tax bill of $1,565. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Penitas Assessed Value
$91,010
Average Hidalgo County Assessed Value
$133,156
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Penitas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78576 | $48,374 | $63,829 | $91,010 | $150,424 | $221,088 |
Source: Ownwell
$1,148
Average Penitas Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Penitas, Texas
In Penitas, Hidalgo County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Penitas is $91,010, and the tax rate is determined by local taxing authorities. Factors such as property location, improvements, and market conditions influence the assessed value. Homeowners in Penitas face property tax bills ranging from $1,091 at the 25th percentile to $4,161 at the 90th percentile, with the median tax bill in the 78576 zip code being $1,565. This is significantly higher than the national median property tax rate of 0.99%. Ownwell assists homeowners by offering property tax appeal and exemption services, potentially lowering their tax bills. By analyzing property assessments and market data, Ownwell identifies discrepancies and files appeals on behalf of homeowners. This professional intervention can result in substantial savings, ensuring homeowners in Penitas aren't overpaying on their property taxes.
Average Penitas Tax Bill
$1,565
Average Hidalgo County Tax Bill
$1,928
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Penitas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78576 | $701 | $1,091 | $1,565 | $2,591 | $4,161 |
Source: Ownwell
$1,148
Average Penitas 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 | |
|---|---|
| Hidalgo Appraisal District | |
| Phone | (956) 381-8466 |
| Website | esearch.hidalgoad.org |
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