Wolfe City, Texas Property Taxes
The median property tax rate in Wolfe City, TX is 1.48%, considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Wolfe City at $125,640, the typical annual property tax bill reaches $1,741, which is below the national median of $2,690. Property taxes in Wolfe City 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 Wolfe City'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 Wolfe City 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
Wolfe City, 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 Wolfe City, Texas Tax Savings
Ownwell’s Wolfe City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wolfe City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wolfe City 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 Wolfe City. 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 Wolfe City, Texas
Property taxes in Wolfe City, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wolfe City is 1.48%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wolfe City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wolfe City 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 Wolfe City's effective property tax rate to other counties in Texas and the national median. For comparison, the 75496 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Wolfe City 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 Wolfe City Tax Rate
1.48%
Average Hunt County Tax Rate
1.69%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wolfe City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75496 | 0.84% | 1.23% | 1.48% | 1.99% | 1.99% |
Source: Ownwell
$1,148
Average Wolfe City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Wolfe City, Texas
In Wolfe City, 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 Wolfe City, 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 Wolfe City is $125,640, with tax bills ranging from $1,019 at the 25th percentile to $4,270 at the 90th percentile. The highest and lowest median tax bills are both $1,741 in zip code 75496. 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 Wolfe City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wolfe City Assessed Value
$125,640
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 Wolfe City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75496 | $28,550 | $67,460 | $125,640 | $212,045 | $361,482 |
Source: Ownwell
$1,148
Average Wolfe City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Wolfe City, Texas
In Wolfe City, Hunt County, TX, property tax bills are calculated based on the assessed value of your home, which is determined by the local appraisal district. The median home price in Wolfe City is $125,640. Property taxes are calculated by applying the local tax rate to this assessed value. For example, homeowners in the 25th percentile pay around $1,019, while those in the 75th percentile face bills of approximately $2,955. The highest median tax bill in the area is $1,741, which falls in the 75496 zip code. Factors considered in the assessment include property size, location, and market conditions. These taxes can significantly impact homeowners, often leading to financial strain if not managed properly. Ownwell offers expert property tax appeal and exemption services to help homeowners reduce their tax burdens. By analyzing your property’s assessed value and comparing it with market data, Ownwell can identify discrepancies and file appeals on your behalf, potentially saving you hundreds or even thousands of dollars annually.
Average Wolfe City Tax Bill
$1,741
Average Hunt County Tax Bill
$3,228
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wolfe City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75496 | $424 | $1,019 | $1,741 | $2,955 | $4,270 |
Source: Ownwell
$1,148
Average Wolfe City 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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