Knott, Texas Property Taxes
The median property tax rate in Knott, TX is 1.23%, which is higher than the national median of 0.99% but below the Texas state median of 1.67%. With a median home value of $209,004 in Knott, the typical annual property tax bill amounts to $2,110, slightly below the national median of $2,690. Property taxes in Knott are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Knott'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 Knott 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
Knott, 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 Knott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knott 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 Knott, Texas
Property taxes in Knott, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knott is 1.23%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Knott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knott 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 Knott's effective property tax rate to other counties in Texas and the national median. For comparison, the 79748 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these areas compare with Knott provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knott Tax Rate
1.23%
Average Howard County Tax Rate
1.56%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79748 | 0.58% | 0.85% | 1.23% | 1.29% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Knott, Texas
In Knott, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 local 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 Knott, 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 here is $209,004, with tax bills ranging from $1,045 at the 25th percentile to $4,771 at the 90th percentile. The highest and lowest median tax bills are both $2,110, found in the 79748 zip code. By understanding 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 Knott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Knott Assessed Value
$209,004
Average Howard County Assessed Value
$107,910
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79748 | $52,746 | $99,518 | $209,004 | $271,107 | $473,780 |
Source: Ownwell
Property Tax Bills Across Knott, Texas
Property tax bills in Knott, located in Howard County, TX, are determined by assessing the market value of a property and applying the local tax rate to this value. The median home price in Knott is $209,004, and property tax rates are calculated based on this assessed value. The tax bill can vary significantly depending on the specific valuation of a home. For instance, homeowners in the 25th percentile can expect to pay around $1,045, while those in the 75th percentile may face bills closer to $3,098. At the higher end, the 90th percentile sees tax bills reaching up to $4,771. These property taxes fund essential community services such as schools, public safety, and infrastructure. It's crucial for homeowners to understand how their property's assessed value influences their tax obligations. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local rates. Understanding these factors can help homeowners better anticipate their annual tax responsibilities and plan their finances accordingly.
Average Knott Tax Bill
$2,110
Average Howard County Tax Bill
$1,431
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Knott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79748 | $680 | $1,045 | $2,110 | $3,098 | $4,771 |
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 | |
|---|---|
| Howard Appraisal District | |
| Website | esearch.howardcad.org |