Morse, Texas Property Taxes
The median property tax rate in Morse, TX is 1.65%, which is considerably higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With the median home value in Morse, the typical annual property tax bill reaches $1,616, falling below the national median of $2,690. Property taxes in Morse 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 Morse'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 Morse 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
Morse, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$1,924
$1,785
Ownwell’s Morse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morse 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 Morse, Texas
Property taxes in Morse, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morse is 1.65%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Morse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morse 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 Morse's effective property tax rate to other counties in Texas and the national median. For comparison, the 79062 zip code has the highest median property tax rate of 1.65%, while the same zip code also has the lowest median tax rate of 1.65%. Understanding how these cities compare with Morse provides valuable insights into the varying tax landscape across Hutchinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morse Tax Rate
1.65%
Average Hutchinson County Tax Rate
2.19%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morse, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79062 | 0.94% | 1.34% | 1.65% | 1.66% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Morse, Texas
In Morse, 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 Hutchinson 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 Morse, 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. Morse homeowners should note that the highest median tax bill in the area is $1,616 in the 79062 zip code. Being aware of these valuation processes in Morse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Morse Assessed Value
$116,600
Average Hutchinson County Assessed Value
$60,035
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morse, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79062 | $11,428 | $35,165 | $116,600 | $152,935 | $863,254 |
Source: Ownwell
Property Tax Bills Across Morse, Texas
In Morse, property tax bills are calculated based on the assessed value of a home, which is determined by the Hutchinson County appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Morse, the median home price is $116,600, and the property tax rate is reflective of Hutchinson County's standards. Factors influencing the tax bill include the property's assessed value, any applicable exemptions, and the specific tax rates set by local taxing authorities. For instance, tax bills in Morse vary significantly, with the 25th percentile at $583 and the 75th percentile reaching $2,445. The highest median tax bill recorded in the area is $1,616. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. Homeowners in Morse must budget for these taxes, which can represent a significant portion of their annual expenses, especially when compared to the national median property tax rate of 0.99%.
Average Morse Tax Bill
$1,616
Average Hutchinson County Tax Bill
$1,285
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Morse, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79062 | $189 | $583 | $1,616 | $2,445 | $3,479 |
Source: Ownwell