Powderly, Texas Property Taxes
The median property tax rate in Powderly, TX is 0.90%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Powderly at $184,860, the typical annual property tax bill amounts to $1,638, falling below the national median of $2,690. Property taxes in Powderly are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding Powderly'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 Powderly or another part of Lamar County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Powderly, 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 Powderly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powderly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powderly 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 Powderly, Texas
Property taxes in Powderly, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Powderly is 0.90%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Powderly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powderly 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 Powderly's effective property tax rate to other counties in Texas and the national median. For comparison, the 75473 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Powderly provides valuable insights into the varying tax landscape across Lamar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powderly Tax Rate
0.90%
Average Lamar County Tax Rate
1.12%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powderly, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75473 | 0.31% | 0.58% | 0.90% | 1.23% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Powderly, Texas
In Powderly, 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 Lamar 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. Assessment notices in Powderly 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, Powderly's median home price is $184,860, with tax bills ranging from $740 at the 25th percentile to $3,569 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,638, found in the 75473 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Powderly Assessed Value
$184,860
Average Lamar County Assessed Value
$126,530
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Powderly, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75473 | $44,056 | $109,850 | $184,860 | $276,270 | $363,598 |
Source: Ownwell
Property Tax Bills Across Powderly, Texas
In Powderly, located in Lamar County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $184,860, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as property size, location, and any applicable exemptions or deductions play crucial roles in determining the final tax bill. For example, the 25th percentile tax bill is $740, while the 75th percentile reaches $2,586, and the 90th percentile can go up to $3,569. The highest and lowest median tax bills in the area are both $1,638, indicating a relatively uniform tax rate across different properties. Compared to the national median property tax rate of 0.99%, Powderly's property tax bills can significantly impact homeowners' financial planning, making it essential for residents to understand their assessments and potential exemptions.
Average Powderly Tax Bill
$1,638
Average Lamar County Tax Bill
$1,230
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Powderly, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75473 | $183 | $740 | $1,638 | $2,586 | $3,569 |
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 | |
|---|---|
| Lamar Appraisal District | |
| Website | esearch.lamarcad.org |