Lovelady, Texas Property Taxes
The median property tax rate in Lovelady, TX is 1.27%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $105,420 in Lovelady, the typical annual property tax bill amounts to $1,266, which is below the national median of $2,690. Property taxes in Lovelady are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Lovelady'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 Lovelady or another part of Houston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lovelady, 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 Lovelady Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lovelady with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lovelady 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 Lovelady, Texas
Property taxes in Lovelady, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lovelady is 1.27%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Lovelady set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lovelady 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 Lovelady's effective property tax rate to other counties in Texas and the national median. For comparison, the 75851 ZIP code has the highest median property tax rate of 1.27%, while the same ZIP code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Lovelady provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lovelady Tax Rate
1.27%
Average Houston County Tax Rate
1.41%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lovelady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75851 | 0.47% | 0.63% | 1.27% | 1.44% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Lovelady, Texas
In Lovelady, 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 Houston 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 Lovelady, 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. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $1266 in zip code 75851, while the lowest median tax bill is also $1266 in the same zip code.
Average Lovelady Assessed Value
$105,420
Average Houston County Assessed Value
$89,420
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lovelady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75851 | $19,650 | $48,570 | $105,420 | $179,640 | $278,520 |
Source: Ownwell
Property Tax Bills Across Lovelady, Texas
Property tax bills in Lovelady, located in Houston County, TX, are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and is typically a percentage of the property's market value. For instance, with a median home price of $105,420, the property tax rate is applied to this value to determine the tax bill. Several factors influence the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. Homeowners in Lovelady can expect tax bills that vary significantly; while the 25th percentile tax bill is $381, the 75th percentile reaches $2,277, and the 90th percentile goes up to $3,464. This range highlights how property values and tax rates impact the annual financial obligation for homeowners. Compared to the national median property tax rate of 0.99%, Lovelady's tax bills reflect the specific economic and property value conditions of the region, affecting how much homeowners pay annually.
Average Lovelady Tax Bill
$1,266
Average Houston County Tax Bill
$1,317
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lovelady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75851 | $135 | $381 | $1,266 | $2,277 | $3,464 |
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 | |
|---|---|
| Houston Appraisal District | |
| Website | www.houstoncad.org |