Inez, Texas Property Taxes
The median property tax rate in Inez, TX is 0.62%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Inez, the typical annual property tax bill reaches $4,431, surpassing the national median of $2,690. Property taxes in Inez are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Inez'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 Inez 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
Inez, 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 Inez Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Inez with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Inez 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 Inez, Texas
Property taxes in Inez, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Inez is 0.62%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Inez set these rates annually, and they can vary significantly across different neighborhoods. Each year, Inez 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 Inez's effective property tax rate to other counties in Texas and the national median. For comparison, the 77968 zip code has the highest median property tax rate of 0.62%, while the 77968 zip code has the lowest median tax rate of 0.62%. Understanding how these cities compare with Inez provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Inez Tax Rate
0.62%
Average Jackson County Tax Rate
1.26%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Inez, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77968 | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Inez, Texas
In Inez, 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 Jackson 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 Inez, 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 Inez helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 77968, both valued at $4,431.
Average Inez Assessed Value
$721,140
Average Jackson County Assessed Value
$105,695
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Inez, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77968 | $465,540 | $561,390 | $721,140 | $880,890 | $976,740 |
Source: Ownwell
Property Tax Bills Across Inez, Texas
In Inez, Jackson County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made. Homeowners in Inez typically see tax bills that vary widely. For example, the tax bill at the 25th percentile is $3,462, while the 75th percentile tax bill reaches $5,400. At the higher end, the 90th percentile tax bill is $5,981. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Inez may find their tax bills are relatively higher, reflecting the local market conditions and property values. For homeowners, understanding these factors is crucial as they directly impact the annual financial obligations tied to their property ownership.
Average Inez Tax Bill
$4,431
Average Jackson County Tax Bill
$1,024
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Inez, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77968 | $2,881 | $3,462 | $4,431 | $5,400 | $5,981 |
Source: 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 | |
|---|---|
| Jackson Appraisal District | |
| Website | jacksoncad.org |