London, Texas Property Taxes
The median property tax rate in London, TX is 0.65%, which is considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in London, the typical annual property tax bill reaches $1,011, significantly less than the national median of $2,690. Property taxes in London are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding London'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 London or another part of Kimble County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
London, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,216
$1,125
Ownwell’s London Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in London with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in London 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 London, Texas
Property taxes in London, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in London is 0.65%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within London set these rates annually, and they can vary significantly across different neighborhoods. Each year, London 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 London's effective property tax rate to other counties in Texas and the national median. For comparison, the 76854 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with London 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 London Tax Rate
0.65%
Average Kimble County Tax Rate
0.99%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across London, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76854 | 0.18% | 0.43% | 0.65% | 0.94% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across London, Texas
In London, 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 London, 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. For instance, the median home price in London is $187,140, with tax bills ranging from $413 at the 25th percentile to $3,053 at the 90th percentile. The zip code with the highest and lowest median tax bill is 76854, both at $1,011. Being aware of these valuation processes in London helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average London Assessed Value
$187,140
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 London, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76854 | $29,380 | $78,330 | $187,140 | $354,770 | $652,290 |
Source: Ownwell
Property Tax Bills Across London, Texas
In London, located in Kimble County, TX, property tax bills are calculated based on the assessed value of the home. The median home price in London is $187,140. Property taxes are determined by multiplying the assessed value by the local tax rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For homeowners, property taxes can vary significantly. In London, the tax bill at the 25th percentile is $413, while at the 75th percentile, it reaches $2,056. The top 10% of tax bills can go as high as $3,053. The median tax bill in the area is $1,011, which is relatively low compared to the national median property tax rate of 0.99%. These tax bills directly impact homeowners' annual expenses and can influence decisions related to property investments and relocations. Understanding how these taxes are calculated helps homeowners plan their finances and potentially seek exemptions or appeals to lower their tax burden.
Average London Tax Bill
$1,011
Average Kimble County Tax Bill
$1,187
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across London, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76854 | $202 | $413 | $1,011 | $2,056 | $3,053 |
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 |