Junction, Texas Property Taxes
The median property tax rate in Junction, TX is 1.08%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value in Junction, the typical annual property tax bill amounts to $1,222, which is below the national median of $2,690. Property taxes in Junction are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Junction'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 Junction 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
Junction, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,277
$1,185
Ownwell’s Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Junction 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 Junction, Texas
Property taxes in Junction, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Junction is 1.08%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Junction 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 Junction's effective property tax rate to other counties in Texas and the national median. For comparison, the 76849 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Junction provides valuable insights into the varying tax landscape across Kimble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Junction Tax Rate
1.08%
Average Kimble County Tax Rate
0.99%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Junction, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76849 | 0.51% | 0.79% | 1.08% | 1.52% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Junction, Texas
In Junction, 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 Kimble 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 Junction, 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 Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 76849 has the highest and lowest median tax bill, both at $1,222.
Average Junction Assessed Value
$118,285
Average Kimble County Assessed Value
$130,340
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Junction, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76849 | $14,909 | $45,878 | $118,285 | $244,878 | $454,737 |
Source: Ownwell
Property Tax Bills Across Junction, Texas
In Junction, located in Kimble County, TX, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $118,285, the assessed value forms the basis for the tax calculation. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local tax rates, exemptions, and the assessed value itself. Homeowners in Junction can expect property tax bills to vary widely. For example, the 25th percentile tax bill is around $524, while the 75th percentile reaches $2,177, and the 90th percentile can go up to $3,441. These variations significantly impact homeowners, as higher property taxes can lead to increased financial burdens, especially when compared to the national median property tax rate of 0.99%.
Average Junction Tax Bill
$1,222
Average Kimble County Tax Bill
$1,187
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Junction, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76849 | $205 | $524 | $1,222 | $2,177 | $3,441 |
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 | |
|---|---|
| Kimble Appraisal District | |
| Website | propaccess.trueautomation.com |