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Milford, Hill County, Texas Property Taxes

  • Median Milford, TX effective property tax rate: 1.30%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.

  • Median Milford, TX home value: $151,210

  • Median annual Milford, TX tax bill: $1,681, $719 lower than the national median property tax bill of $2,400.

How are property taxes in Hill County calculated?

Property taxes in Milford, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Milford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milford, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Milford, Hill County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.3%

Estimate Property Tax Bill

$1,966

$1,824

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Milford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Milford with just two data points. By entering your property's estimated assessed value, our calculator applies Milford’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hill County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Milford, Hill County, Texas

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate the required budget to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While the process involves votes and legal procedures, this is essentially how it works annually. In Milford, Hill County, Texas, the effective property tax rate is a key figure for homeowners to consider. Comparing Milford's rate to other cities in Texas and the national average provides valuable insight. The median property tax rate in Texas is higher than the national median of 1.02%. This comparison highlights the importance of understanding local tax rates and their impact on property owners. By knowing these rates, homeowners can make informed decisions about their property investments and potential tax liabilities.

Property Tax Rates Across Milford, Hill County, Texas

Source: Ownwell

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1.25%

1.91%

2.58%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Milford Tax Rate

1.30%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Hill County Tax Rate

1.56%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Milford, Hill County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
766700.64%1.03%1.30%1.39%1.80%

Source: Ownwell

Property Tax Assessment Values Across Milford, Hill County, Texas

When examining property taxes in Milford, Texas, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hill County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Hill County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Milford.

For example, the median home price in Milford is $151,210, with tax bills ranging significantly across the county. Zip code 76670 has the highest median home price at $151,210.

Property Tax Assessment Values Across Milford, Hill County, Texas

Source: Ownwell

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$41,480

$125,125

$208,770

Median Milford Market Value

$151,210

Median Hill County Market Value

$116,870

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Milford, Hill County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
76670$39,604$83,160$151,210$269,210$450,148

Source: Ownwell

Property Tax Bills Across Milford, Hill County, Texas

In Milford, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is influenced by factors such as the property's location, size, and condition. Homeowners in Milford experience a range of property tax bills, with the 25th percentile paying around $853, while those in the 75th percentile face bills up to $3,275. The 90th percentile can see tax bills as high as $4,671. Compared to the national median property tax bill of $2,400, Milford's tax bills can be significantly lower or higher depending on the property's assessed value.

For homeowners seeking to reduce their property tax burden, Ownwell offers expert assistance in appealing assessments and securing exemptions. By analyzing market trends and property data, Ownwell identifies opportunities for savings and guides homeowners through the appeal process. This tailored approach ensures that Milford residents pay only their fair share, potentially saving them hundreds or even thousands of dollars on their property tax bills annually.

Property Tax Bills Across Milford, Hill County, Texas

Source: Ownwell

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$610

$1,709

$2,808

Median Milford Tax Bill

$1,681

Median Hill County Tax Bill

$1,810

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Milford, Hill County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
76670$436$853$1,681$3,275$4,671

Source: Ownwell

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