Amherst, Texas Property Taxes
The median property tax rate in Amherst, TX is 2.67%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Amherst at $26,090, the typical annual property tax bill reaches $519, falling below the national median of $2,690. Property taxes in Amherst 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 Amherst'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 Amherst 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
Amherst, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.67%
Estimate Property Tax Bill
$697
$646
Ownwell’s Amherst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amherst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amherst 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 Amherst, Texas
Property taxes in Amherst, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amherst is 2.67%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Amherst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amherst 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 Amherst's effective property tax rate to other counties in Texas and the national median. For comparison, the 79312 zip code has the highest median property tax rate of 2.67%, while the same 79312 zip code has the lowest median tax rate of 2.67%. Understanding how these cities compare with Amherst provides valuable insights into the varying tax landscape across Lamb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amherst Tax Rate
2.67%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amherst, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79312 | 1.34% | 1.67% | 2.67% | 2.73% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across Amherst, Texas
In Amherst, 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 Lamb 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 Amherst, 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. For instance, the zip code 79312 has the highest median tax bill at $519.00. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Amherst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amherst Assessed Value
$26,090
Average Lamb County Assessed Value
$37,240
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amherst, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79312 | $2,952 | $9,910 | $26,090 | $57,710 | $116,682 |
Source: Ownwell
Property Tax Bills Across Amherst, Texas
In Amherst, located in Lamb County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local appraisal district and reflects the market value of the property. The tax rate, set by local taxing authorities, is applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions. For instance, the median home price in Amherst is $26,090, with tax bills ranging significantly from the 25th percentile at $228 to the 90th percentile at $1,800. This variability demonstrates how individual property characteristics and assessment values can impact tax obligations. Compared to the national median property tax rate of 0.99%, the tax burden in Amherst can be relatively modest, making it an attractive option for homeowners looking for lower property tax rates. This affordability can significantly affect homeowners by reducing their annual financial commitments, allowing for more disposable income or savings.
Average Amherst Tax Bill
$519
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Amherst, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79312 | $76 | $228 | $519 | $1,028 | $1,800 |
Source: Ownwell