Knox County, Texas Property Taxes

Name: Property Tax Bills Across Knox County, Texas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Knox County effective property tax rate: 2.74%, significantly higher than the national median of 1.02%. Median Knox County home value: $31,450. Median annual Knox County tax bill: $916, $1,484 lower than the national median property tax bill of $2,400.

How are property taxes in Knox County calculated?

Property taxes in Knox County are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Benjamin or another part of Knox County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Knox County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.74%

Estimate Property Tax Bill

$862

$800

Ownwell’s Knox County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Knox County with just two data points. By entering your property's estimated assessed value, our calculator applies Knox County’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Knox County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Knox County, Texas

Local government entities in Knox County, Texas, set property tax rates, which can significantly vary within the state. Each year, Knox County estimates its budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in determining tax rates and budgets, this is the core of the annual process. Knox County's effective property tax rate stands out when compared to other counties in Texas and the national median property tax rate of 1.02%. With a median tax rate of 2.74%, Knox County is well above the national median, reflecting the local government's budgetary needs and property values. For context, the highest median tax rate in Knox County is 3.60% in Munday, while the lowest is 1.72% in Seymour. This range highlights the variability within the county itself, influenced by local factors and fiscal requirements.

Property Tax Rates Across Knox County, Texas

Source: Ownwell

1.72%

2.66%

3.60%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Knox County Tax Rate

2.74%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Knox County, Texas

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Benjamin	2.08%	2.77%	2.77%	2.77%	2.77%
Crowell	N/A	N/A	N/A	N/A	N/A
Goree	2.31%	3.29%	3.29%	3.29%	3.29%
Knox City	1.84%	2.74%	2.74%	2.74%	2.74%
Munday	2.31%	3.60%	3.60%	3.60%	3.60%
Seymour	1.72%	1.72%	1.72%	1.72%	2.14%

Source: Ownwell

Property Tax Assessment Values Across Knox County, Texas

When examining property taxes in Knox County, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Knox County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices: In Knox County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Knox County.

For example, the median tax bill in Knox County is $1,113, with tax bills ranging significantly across the county. Seymour has the highest median home price at $40,110.

Property Tax Assessment Values Across Knox County, Texas

Source: Ownwell

$23,075

$31,593

$40,110

Median Knox County Market Value

$31,450

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Knox County, Texas

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Benjamin	$2,995	$13,200	$32,375	$56,715	$70,147
Crowell	N/A	N/A	N/A	N/A	N/A
Goree	$1,933	$5,750	$23,075	$42,795	$67,639
Knox City	$6,231	$19,948	$33,285	$55,908	$89,885
Munday	$4,368	$18,235	$32,580	$63,145	$90,592
Seymour	$21,682	$27,360	$40,110	$71,200	$97,518

Source: Ownwell

Property Tax Bills Across Knox County, Texas

In Knox County, TX, property tax bills are calculated based on the assessed value of a property, which is determined by the local appraisal district. The assessed value is then multiplied by the local tax rate to determine the property tax bill. Factors such as market conditions, property improvements, and neighborhood trends can influence the assessed value. For homeowners in Knox County, the median home price is $31,450, resulting in varying tax bills across the county. The 25th percentile tax bill is $473, while the 75th percentile tax bill reaches $1,582, and the 90th percentile tax bill is $2,383. Comparatively, the national median property tax bill is $2,400, indicating that many homeowners in Knox County pay less than the national average. The city of Munday has the highest median tax bill at $1,113, while Seymour has the lowest at $688. These figures highlight the impact of property taxes on homeowners, influencing their financial planning and overall housing affordability.

Property Tax Bills Across Knox County, Texas

Source: Ownwell

$688

$901

$1,113

Median Knox County Tax Bill

$916

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Knox County, Texas

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Benjamin	$83	$365	$864	$1,389	$1,806
Crowell	N/A	N/A	N/A	N/A	N/A
Goree	$63	$190	$732	$1,188	$1,829
Knox City	$170	$544	$895	$1,421	$2,190
Munday	$157	$632	$1,113	$1,927	$2,876
Seymour	$375	$469	$688	$1,224	$1,753

Source: Ownwell

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