Wolfforth, Texas Property Taxes
The median property tax rate in Wolfforth, TX is 1.22%, slightly above the national median of 0.99% but below the Texas state median of 1.67%. With a median home value of $68,440 in Wolfforth, the typical annual property tax bill amounts to $847, which is considerably lower than the national median of $2,690. Property taxes in Wolfforth are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wolfforth'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 Wolfforth 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
Wolfforth, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$835
$773
Ownwell’s Wolfforth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wolfforth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wolfforth 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 Wolfforth, Texas
Property taxes in Wolfforth, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wolfforth is 1.22%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wolfforth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wolfforth 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 Wolfforth's effective property tax rate to other counties in Texas and the national median. For comparison, the 79382 zip code has the highest median property tax rate of 1.22%, while the 79382 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Wolfforth provides valuable insights into the varying tax landscape across Hockley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wolfforth Tax Rate
1.22%
Average Hockley County Tax Rate
2.18%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wolfforth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79382 | 0.75% | 0.93% | 1.22% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Wolfforth, Texas
In Wolfforth, 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 Hockley 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 Wolfforth, 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. For example, the median home price in Wolfforth is $68,440, with the 25th percentile tax bill at $282 and the 75th percentile tax bill at $2,552. The highest median tax bill in the 79382 zip code is $847. 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 Wolfforth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wolfforth Assessed Value
$68,440
Average Hockley County Assessed Value
$75,980
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wolfforth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79382 | $7,231 | $27,355 | $68,440 | $204,945 | $347,151 |
Source: Ownwell
Property Tax Bills Across Wolfforth, Texas
Property tax bills in Wolfforth, located in Hockley County, TX, are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county appraisal district. Factors such as property size, location, and market conditions influence this assessed value. Once assessed, the local tax rate is applied to calculate the annual tax bill. In Wolfforth, the median home price is $68,440. Homeowners can expect tax bills that vary significantly, with the 25th percentile at $282 and the 75th percentile at $2,552. Those in the 90th percentile face tax bills as high as $3,995. The highest and lowest median tax bills in the area are both $847, tied to the zip code 79382. Compared to the national median property tax rate of 0.99%, Wolfforth's property tax rates can vary, impacting homeowners differently based on their property's assessed value and the applicable local tax rate.
Average Wolfforth Tax Bill
$847
Average Hockley County Tax Bill
$1,490
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wolfforth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79382 | $104 | $282 | $847 | $2,552 | $3,995 |
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 | |
|---|---|
| Hockley Appraisal District | |
| Website | propaccess.trueautomation.com |