Mertzon, Texas Property Taxes
The median property tax rate in Mertzon, TX is 1.90%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $79,205 in Mertzon, the typical annual property tax bill amounts to $1,215, which is lower than the national median of $2,690. Property taxes in Mertzon are determined based on the tax assessed value, which is often below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mertzon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mertzon or another part of the city, familiarity with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mertzon, 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 Mertzon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mertzon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mertzon 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 Mertzon, Texas
Property taxes in Mertzon, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mertzon is 1.90%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Mertzon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mertzon 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 Mertzon's effective property tax rate to other counties in Texas and the national median. For comparison, the 76941 zip code has the highest median property tax rate of 1.90%, while the 76941 zip code has the lowest median tax rate of 1.90%. Understanding how these cities compare with Mertzon provides valuable insights into the varying tax landscape across Irion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mertzon Tax Rate
1.90%
Average Irion County Tax Rate
1.44%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mertzon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76941 | 0.91% | 1.15% | 1.90% | 1.90% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Mertzon, Texas
In Mertzon, 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 Irion 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 Mertzon, 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. Zip code 76941 has the highest median tax bill at $1,215. 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 Mertzon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mertzon Assessed Value
$79,205
Average Irion County Assessed Value
$74,965
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mertzon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76941 | $9,290 | $25,210 | $79,205 | $155,030 | $260,069 |
Source: Ownwell
Property Tax Bills Across Mertzon, Texas
In Mertzon, property tax bills are calculated based on the assessed value of a property, which is determined by the Irion County Appraisal District. The assessed value takes into account factors such as the property's market value, location, and any improvements made. Once the assessed value is established, the tax rate set by local taxing authorities is applied. For Mertzon, the median home price is $79,205. Homeowners in Mertzon can expect their tax bills to vary significantly. The 25th percentile tax bill is around $380, while the 75th percentile reaches $2,250, and the 90th percentile can go up to $3,197. These figures highlight the range of property tax burdens residents might face, influenced by the value and characteristics of their properties. Understanding how these factors interplay is crucial for homeowners, as property taxes directly impact their annual financial obligations. Compared to the national median property tax rate of 0.99%, Mertzon's rates reflect the localized approach to property taxation in Texas.
Average Mertzon Tax Bill
$1,215
Average Irion County Tax Bill
$1,083
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mertzon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76941 | $147 | $380 | $1,215 | $2,250 | $3,197 |
Source: Ownwell