Granbury, Texas Property Taxes
The median property tax rate in Granbury, TX is 0.95%, slightly below the national median of 0.99% and significantly lower than the Texas state median of 1.67%. With a median home value of $296,670, the typical annual property tax bill in Granbury is $2,115, which is also below the national median of $2,690. Property taxes in Granbury are calculated 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. Understanding Granbury'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 Granbury or another part of Hood County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Granbury, 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 Granbury Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Granbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granbury 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 Granbury, Texas
Property taxes in Granbury, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granbury is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Granbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granbury 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 Granbury's effective property tax rate to other counties in Texas and the national median. For comparison, the 76048 zip code has the highest median property tax rate of 1.31%, while the 76049 zip code has the lowest median tax rate of 0.86%. Understanding how these cities compare with Granbury provides valuable insights into the varying tax landscape across Hood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granbury Tax Rate
0.95%
Average Hood County Tax Rate
0.96%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granbury, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76048 | 0.16% | 0.46% | 1.31% | 1.33% | 1.47% |
| 76049 | 0.16% | 0.37% | 0.86% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Granbury, Texas
In Granbury, 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 Hood 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 Granbury, 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 highest median tax bill in Granbury is $2,490 in the 76049 zip code, while the lowest is $1,723 in the 76048 zip code. Being aware of these valuation processes in Granbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Granbury Assessed Value
$296,670
Average Hood County Assessed Value
$289,560
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granbury, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76048 | $32,692 | $92,390 | $227,240 | $373,415 | $649,334 |
| 76049 | $75,520 | $212,470 | $357,580 | $498,980 | $685,770 |
Source: Ownwell
Property Tax Bills Across Granbury, Texas
In Granbury, located in Hood County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local appraisal district, which evaluates the property's market value. Factors such as the property's size, location, and condition are taken into consideration. The tax rate, which varies by jurisdiction, is then applied to the assessed value to determine the annual tax bill. For instance, the median home price in Granbury is $296,670. Homeowners in the 25th percentile of tax bills pay around $640, while those in the 75th percentile see bills of approximately $4,158. The highest median tax bill in the area is $2,490 in the 76049 zip code, whereas the lowest is $1,723 in the 76048 zip code. Compared to the national median property tax rate of 0.99%, Granbury's rates can significantly impact homeowners, influencing decisions on property purchases and financial planning. Understanding these factors is crucial for managing property-related expenses effectively.
Average Granbury Tax Bill
$2,115
Average Hood County Tax Bill
$2,081
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Granbury, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76048 | $188 | $478 | $1,723 | $3,760 | $6,491 |
| 76049 | $319 | $860 | $2,490 | $4,475 | $6,590 |
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 | |
|---|---|
| Hood Appraisal District | |
| Website | iswdataclient.azurewebsites.net |