Earth, Texas Property Taxes
The median property tax rate in Earth, TX is 2.15%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Earth at $33,070, the typical annual property tax bill reaches $635, which is below the national median of $2,690. Property taxes in Earth are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Earth’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 Earth 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
Earth, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.15%
Estimate Property Tax Bill
$711
$660
Ownwell’s EARTH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EARTH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EARTH 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 Earth, Texas
Property taxes in EARTH, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in EARTH is 2.15%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within EARTH set these rates annually, and they can vary significantly across different neighborhoods. Each year, EARTH 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 EARTH's effective property tax rate to other counties in Texas and the national median. For comparison, the 79031 zip code has the highest median property tax rate of 2.15%, while the 79031 zip code also has the lowest median tax rate of 2.15%. Understanding how these cities compare with EARTH provides valuable insights into the varying tax landscape across Lamb, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Earth Tax Rate
2.15%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Earth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79031 | 1.32% | 1.68% | 2.15% | 2.71% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Earth, Texas
In EARTH, 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 EARTH, 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. The median home price in EARTH is $33,070, with tax bills ranging from $241 at the 25th percentile to $2,253 at the 90th percentile. The zip code with the highest median tax bill is 79031, with a median tax bill of $635. Being aware of these valuation processes in EARTH helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Earth Assessed Value
$33,070
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 Earth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79031 | $3,746 | $9,220 | $33,070 | $78,290 | $141,448 |
Source: Ownwell
Property Tax Bills Across Earth, Texas
Property tax bills in EARTH, located in Lamb County, TX, are calculated based on the assessed value of a property and the local tax rate. The median home price in the area is $33,070, and the property tax rate is applied to this value to determine the annual tax bill. For example, homeowners at the 25th percentile can expect a tax bill of approximately $241, while those at the 75th percentile might see bills around $1,253. At the 90th percentile, the tax bill can reach $2,253. Several factors influence the tax bill, including the property's assessed value, any applicable exemptions, and the local tax rate. This system ensures that property taxes are proportional to the property’s value, affecting homeowners by requiring higher payments for higher-valued properties. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax obligations effectively.
Average Earth Tax Bill
$635
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Earth, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79031 | $99 | $241 | $635 | $1,253 | $2,253 |
Source: Ownwell