Lone Oak, Texas Property Taxes
The median property tax rate in Lone Oak, TX is 1.69%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $134,810 in Lone Oak, the typical annual property tax bill amounts to $1,960, falling short of the national median of $2,690. Property taxes in Lone Oak are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Lone Oak's property tax system, exploring available exemptions, and finding opportunities for reductions can yield substantial annual savings. Whether residing in Lone Oak or another part of Hunt County, comprehending the local property tax framework is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Lone Oak, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$2,278
$2,114
$1,148
Average Tax Savings
Ownwell’s Lone Oak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lone Oak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lone Oak to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Lone Oak. 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 Lone Oak, Texas
Property taxes in Lone Oak, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lone Oak is 1.69%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lone Oak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lone Oak 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 Lone Oak's effective property tax rate to other counties in Texas and the national median. For comparison, the 75453 zip code has the highest median property tax rate of 1.69%, while the 75453 zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Lone Oak provides valuable insights into the varying tax landscape across Hunt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lone Oak Tax Rate
1.69%
Average Hunt County Tax Rate
1.69%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lone Oak, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75453 | 0.96% | 1.37% | 1.69% | 1.69% | 2.04% |
Source: Ownwell
$1,148
Average Lone Oak Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lone Oak, Texas
In Lone Oak, 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 Hunt 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 Lone Oak, 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 in Lone Oak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lone Oak stands at $134,810. Homeowners in the 25th percentile face tax bills around $805, while those in the 75th percentile see bills closer to $3,936. The highest median tax bill is $1,960, recorded in the 75453 zip code, which also has the lowest median tax bill at the same amount.
Average Lone Oak Assessed Value
$134,810
Average Hunt County Assessed Value
$198,210
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lone Oak, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75453 | $20,842 | $55,300 | $134,810 | $262,460 | $431,668 |
Source: Ownwell
$1,148
Average Lone Oak Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lone Oak, Texas
In Lone Oak, Hunt County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. Factors such as the home's size, location, and condition are considered to estimate its market value. The local property tax rate is then applied to this assessed value to determine the tax bill. With a median home price of $134,810, homeowners in Lone Oak face varying tax bills, from the 25th percentile at $805 to the 90th percentile at $6,125, depending on their property's assessed value and applicable exemptions. Homeowners can significantly benefit from appealing their property tax assessments, especially if they believe their home has been over-assessed. This is where Ownwell steps in. By leveraging their expertise, Ownwell helps homeowners navigate the complex appeal process, potentially lowering their assessed values and, consequently, their tax bills. With professional guidance, homeowners can ensure they're not overpaying and can save substantially on their property taxes.
Average Lone Oak Tax Bill
$1,960
Average Hunt County Tax Bill
$3,228
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lone Oak, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75453 | $305 | $805 | $1,960 | $3,936 | $6,125 |
Source: Ownwell
$1,148
Average Lone Oak Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Hunt Appraisal District | |
| Website | esearch.hunt-cad.org |
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