Malone, Texas Property Taxes
The median property tax rate in Malone, TX is 1.60%, which is significantly higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With a median home value of $86,310 in Malone, the typical annual property tax bill is $1,132, which is below the national median of $2,690. Property taxes in Malone are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Malone's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Malone or another part of the city, gaining insight into the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Malone, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$1,381
$1,281
$1,148
Average Tax Savings
Ownwell’s Malone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malone 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 Malone. 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 Malone, Texas
Property taxes in Malone, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malone is 1.60%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Malone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malone 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 Malone's effective property tax rate to other counties in Texas and the national median. For comparison, the 76660 zip code has the highest median property tax rate of 1.60%, while the 76660 zip code has the lowest median tax rate of 1.60%. Understanding how these cities compare with Malone provides valuable insights into the varying tax landscape across Hill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malone Tax Rate
1.60%
Average Hill County Tax Rate
1.56%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76660 | 0.96% | 1.31% | 1.60% | 1.72% | 1.72% |
Source: Ownwell
$1,148
Average Malone Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Malone, Texas
In Malone, 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 Hill 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 Malone, 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. The median home price in Malone is $86,310, with tax bills ranging significantly across different percentiles. For instance, the 25th percentile tax bill is $516, while the 75th percentile tax bill is $1,795. Notably, the highest median tax bill is found in the 76660 zip code, amounting to $1,132. By understanding these valuation processes, 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 Malone Assessed Value
$86,310
Average Hill County Assessed Value
$116,870
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76660 | $13,122 | $40,280 | $86,310 | $142,860 | $298,300 |
Source: Ownwell
$1,148
Average Malone Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Malone, Texas
In Malone, located in Hill County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $86,310, homeowners can expect their tax bill to vary significantly. The 25th percentile tax bill is around $516, while the 75th percentile reaches up to $1,795, and the 90th percentile can be as high as $2,963. These figures show that property taxes can be a substantial financial burden for homeowners in Malone, especially when compared to the national median property tax rate of 0.99%. Ownwell can help homeowners in Malone save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing local market trends and property assessments, Ownwell identifies discrepancies and assists homeowners in appealing their assessed values, potentially lowering their tax obligations and providing significant savings.
Average Malone Tax Bill
$1,132
Average Hill County Tax Bill
$1,810
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Malone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76660 | $222 | $516 | $1,132 | $1,795 | $2,963 |
Source: Ownwell
$1,148
Average Malone 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 | |
|---|---|
| Hill Appraisal District | |
| Website | esearch.hillcad.org |
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