West Tawakoni, Texas Property Taxes
The median property tax rate in West Tawakoni, TX is 1.84%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in West Tawakoni, the typical annual property tax bill reaches $384, which is significantly lower than the national median of $2,690. Property taxes in West Tawakoni are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding West Tawakoni'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 West Tawakoni 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
West Tawakoni, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average West Tawakoni, Texas Tax Savings
Ownwell’s WEST TAWAKONI Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WEST TAWAKONI with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WEST TAWAKONI 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 WEST TAWAKONI. 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 West Tawakoni, Texas
Property taxes in West Tawakoni, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Tawakoni is 1.84%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within West Tawakoni set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Tawakoni 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 West Tawakoni's effective property tax rate to other counties in Texas and the national median. For comparison, the 75474 zip code has the highest median property tax rate of 1.84%, while the 75474 zip code has the lowest median tax rate of 1.84%. Understanding how these cities compare with West Tawakoni 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 West Tawakoni Tax Rate
1.84%
Average Hunt County Tax Rate
1.69%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Tawakoni, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75474 | 1.13% | 1.46% | 1.84% | 1.84% | 1.84% |
Source: Ownwell
$1,148
Average West Tawakoni Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across West Tawakoni, Texas
In West Tawakoni, 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 West Tawakoni, 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 in West Tawakoni is $21,560. Notably, the median tax bill in the 75474 zip code is $384. 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 West Tawakoni helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West Tawakoni Assessed Value
$21,560
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 West Tawakoni, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75474 | $8,021 | $11,780 | $21,560 | $99,855 | $144,161 |
Source: Ownwell
$1,148
Average West Tawakoni Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across West Tawakoni, Texas
In West Tawakoni, Hunt County, TX, property tax bills are derived from the assessed value of a property, which is determined by the local appraisal district. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and market conditions are considered in the assessment process. For example, with a median home price of $21,560, homeowners in West Tawakoni can expect their tax bills to vary significantly, ranging from the 25th percentile at $172 to the 90th percentile at $2,656. Given that the national median property tax rate is 0.99%, West Tawakoni's rates can be relatively high for some homeowners. That's where Ownwell steps in. By providing expert property tax appeal and exemption services, Ownwell helps homeowners challenge over-assessments and secure exemptions, potentially saving them hundreds or even thousands of dollars annually. This not only reduces the financial burden but also ensures that homeowners pay only their fair share.
Average West Tawakoni Tax Bill
$384
Average Hunt County Tax Bill
$3,228
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across West Tawakoni, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75474 | $104 | $172 | $384 | $1,839 | $2,656 |
Source: Ownwell
$1,148
Average West Tawakoni 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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