Benjamin, Knox County, Texas Property Taxes
Median Benjamin, TX effective property tax rate: 2.77%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Benjamin, TX home value: $32,375
Median annual Benjamin, TX tax bill: $864, $1,536 lower than the national median property tax bill of $2,400.
How are property taxes in Knox calculated?
Property taxes in Benjamin, TX 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 Benjamin’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Benjamin, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Benjamin, Knox County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.77%
Estimate Property Tax Bill
$897
$832
Property Tax Rates Across Benjamin, Knox County, Texas
Local government entities set tax rates, which can vary widely within a state. This is because each county, like 48275, estimates its required budget to provide services annually. They then divide this budget by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Benjamin, the effective property tax rate is notably higher than the national median of 1.02%. This county has a median property tax rate of 2.77%, which stands out compared to other cities in Texas and the U.S. Such a high rate can significantly impact homeowners, leading to higher property tax bills than the national median of $2,400. Understanding these differences is crucial for property owners looking to manage their expenses effectively. By appealing or seeking exemptions, property owners in Benjamin can potentially lower their tax burden, aligning more closely with their financial goals.
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 Benjamin Tax Rate
2.77%
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 Benjamin, Knox County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79505 | 2.08% | 2.77% | 2.77% | 2.77% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Benjamin, Knox County, Texas
When examining property taxes in Benjamin, TX, 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.
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 Benjamin.
For example, the median home price in Benjamin is $32,375, with tax bills ranging significantly across the county. Zip code 79505 has the highest median home price at $32,375.
Property Tax Assessment Values Across Benjamin, Knox County, Texas
Source: Ownwell
$23,075
$31,593
$40,110
Median Benjamin Market Value
$32,375
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 Benjamin, Knox County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79505 | $2,995 | $13,200 | $32,375 | $56,715 | $70,147 |
Source: Ownwell
Property Tax Bills Across Benjamin, Knox County, Texas
Median Benjamin Tax Bill
$864
Median Knox County Tax Bill
$916
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Benjamin, Knox County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79505 | $83 | $365 | $864 | $1,389 | $1,806 |
Source: Ownwell