Guthrie, Texas Property Taxes
The median property tax rate in Guthrie, TX is 1.96%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Guthrie at $32,820, the typical annual property tax bill reaches $590, which is significantly lower than the national median of $2,690. Property taxes in Guthrie are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Guthrie'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 Guthrie 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
Guthrie, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$643
$595
Ownwell’s Guthrie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guthrie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guthrie 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 Guthrie, Texas
Property taxes in Guthrie, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guthrie is 1.96%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Guthrie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guthrie 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 Guthrie's effective property tax rate to other counties in Texas and the national median. For comparison, the 79236 zip code has the highest median property tax rate of 1.96%, while the 79236 zip code also has the lowest median tax rate of 1.96%. Understanding how these cities compare with Guthrie provides valuable insights into the varying tax landscape across King County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guthrie Tax Rate
1.96%
Average King County Tax Rate
1.96%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guthrie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79236 | 0.43% | 1.96% | 1.96% | 1.96% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Guthrie, Texas
In Guthrie, 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 King 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 Guthrie, 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. The median home price in Guthrie is $32,820, with tax bills ranging from $319 at the 25th percentile to $1,971 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Guthrie Assessed Value
$32,820
Average King County Assessed Value
$34,235
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guthrie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79236 | $6,058 | $17,290 | $32,820 | $74,200 | $192,352 |
Source: Ownwell
Property Tax Bills Across Guthrie, Texas
In Guthrie, King County, TX, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county appraisal district, which estimates the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Guthrie experience varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $319, while the 75th percentile reaches approximately $1,014. The 90th percentile tax bill can go as high as $1,971, indicating a significant range in property tax liabilities. The median home price in Guthrie is $32,820, which is relatively low compared to national standards. However, the property tax rate in King County can still significantly impact homeowners, especially those with higher-valued properties. Understanding these factors is crucial for homeowners to manage their finances and anticipate their annual property tax obligations.
Average Guthrie Tax Bill
$590
Average King County Tax Bill
$583
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Guthrie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79236 | $109 | $319 | $590 | $1,014 | $1,971 |
Source: Ownwell