Graford, Texas Property Taxes
The median property tax rate in Graford, TX is 1.42%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Graford at $131,640, the typical annual property tax bill amounts to $1,766, which is below the national median of $2,690. Property taxes in Graford are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Graford'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 Graford or another part of Jack County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graford, 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 Graford Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Graford with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Graford to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you plan your finances better. If you're curious about trends at a neighborhood level, scroll down to find more detailed information. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Graford, Texas
Property taxes in Graford, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graford is 1.42%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Graford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graford 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 Graford's effective property tax rate to other counties in Texas and the national median. For comparison, the 76449 zip code has the highest median property tax rate of 1.42%, while the 76449 zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Graford provides valuable insights into the varying tax landscape across Jack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graford Tax Rate
1.42%
Average Jack County Tax Rate
1.42%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76449 | 0.93% | 1.01% | 1.42% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Graford, Texas
In Graford, 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 Jack 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 Graford, 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 Graford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76449 has the highest and lowest median tax bills, both at $1,766. The 25th percentile tax bill is $1,057, while the 75th percentile tax bill is $2,058, and the 90th percentile tax bill is $2,333.
Average Graford Assessed Value
$131,640
Average Jack County Assessed Value
$110,330
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76449 | $36,855 | $74,128 | $131,640 | $175,378 | $242,290 |
Source: Ownwell
Property Tax Bills Across Graford, Texas
In Graford, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. For example, the median home price in Graford is approximately $131,640. Once the property value is assessed, the tax rate is applied to this value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, thereby impacting the tax bill. Homeowners in Graford can expect a range of tax bills; for instance, those in the 25th percentile pay around $1,057, while those in the 75th percentile might pay up to $2,058. The tax burden can significantly affect household budgets, as seen in the highest median tax bill of $1,766 in the 76449 zip code, which is notably higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate and plan for their property tax obligations.
Average Graford Tax Bill
$1,766
Average Jack County Tax Bill
$1,539
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Graford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76449 | $433 | $1,057 | $1,766 | $2,058 | $2,333 |
Source: Ownwell