Medina, Texas Property Taxes
The median property tax rate in Medina, TX is 0.27%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Medina at $429,187, the typical annual property tax bill reaches $1,163, well below the national median of $2,690. Property taxes in Medina are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Medina'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 Medina 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
Medina, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$1,159
$1,072
Ownwell’s Medina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Medina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Medina 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 Medina, Texas
Property taxes in Medina, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Medina is 1.30%, significantly higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Medina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Medina 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 Medina's effective property tax rate to other counties in Texas and the national median. For comparison, the 78041 zip code has the highest median property tax rate of 2.57%, while the 78003 zip code has the lowest median tax rate of 1.30%. Understanding how these cities compare with Medina provides valuable insights into the varying tax landscape across Medina County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Medina Tax Rate
0.27%
Average Kerr County Tax Rate
1.22%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Medina, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78055 | 0.12% | 0.18% | 0.27% | 0.61% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Medina, Texas
In Medina, 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 local 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 Medina, 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 Medina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Medina is $1,163 in the 78055 zip code, while the lowest median tax bill is also $1,163 in the same zip code.
Average Medina Assessed Value
$429,187
Average Kerr County Assessed Value
$241,957
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Medina, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78055 | $331,690 | $368,252 | $429,187 | $730,852 | $911,850 |
Source: Ownwell
Property Tax Bills Across Medina, Texas
In Medina, located in Kerr County, 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 appraisal district, which evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Medina, the tax bill can vary significantly. For example, the 25th percentile tax bill is around $1,022, while the 75th percentile reaches $2,052, and the 90th percentile can go up to $2,586. Compared to the national median property tax rate of 0.99%, Medina's rates reflect the local economic conditions and property values. Understanding these factors is crucial for homeowners as property taxes can significantly impact annual expenses and overall affordability of owning a home in Medina.
Average Medina Tax Bill
$1,163
Average Kerr County Tax Bill
$2,815
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Medina, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78055 | $937 | $1,022 | $1,163 | $2,052 | $2,586 |
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 | |
|---|---|
| Kerr Appraisal District | |
| Website | esearch.kerrcad.org |