Seymour, Texas Property Taxes
The median property tax rate in Seymour, TX is 1.72%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Seymour, the typical annual property tax bill reaches $688, which is lower than the national median of $2,690. Property taxes in Seymour 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 Seymour'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 Seymour or another part of Knox County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seymour, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell's Seymour Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seymour with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seymour 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 Seymour, Texas
Property taxes in Seymour, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seymour is 1.72%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Seymour set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seymour 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 Seymour's effective property tax rate to other counties in Texas and the national median. For comparison, the 76380 zip code has the highest median property tax rate of 1.72%, while the 76380 zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Seymour provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seymour Tax Rate
1.72%
Average Knox County Tax Rate
2.74%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seymour, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76380 | 1.72% | 1.72% | 1.72% | 1.72% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Seymour, Texas
In Seymour, 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 Knox 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 Seymour, 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 Seymour is $40,110, with tax bills ranging from $469 at the 25th percentile to $1,753 at the 90th percentile. The zip code 76380 has the highest and lowest median tax bill, both at $688. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seymour Assessed Value
$40,110
Average Knox County Assessed Value
$31,450
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seymour, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76380 | $21,682 | $27,360 | $40,110 | $71,200 | $97,518 |
Source: Ownwell
Property Tax Bills Across Seymour, Texas
In Seymour, located in Knox County, TX, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property. Various factors influence this calculation, including the property's location, size, and any improvements made. For homeowners in Seymour, the median home price stands at $40,110. Property tax bills can vary widely, with the 25th percentile tax bill at $469 and the 75th percentile reaching $1,224. At the higher end, the 90th percentile tax bill can be as much as $1,753. The highest and lowest median tax bills in Seymour are both $688, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential local services such as public schools, infrastructure, and emergency services. For homeowners, understanding how these factors contribute to their annual tax bill is crucial for financial planning and property management.
Average Seymour Tax Bill
$688
Average Knox County Tax Bill
$916
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Seymour, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76380 | $375 | $469 | $688 | $1,224 | $1,753 |
Source: Ownwell