Fieldton, Texas Property Taxes
The median property tax rate in Fieldton, TX is 0.63%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Fieldton at $140,100, the typical annual property tax bill reaches $867, well below the national median of $2,690. Property taxes in Fieldton 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 Fieldton'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 Fieldton or another part of Lamb County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fieldton, 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 Fieldton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fieldton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fieldton 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 Fieldton, Texas
Property taxes in Fieldton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fieldton is 0.63%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Fieldton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fieldton 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 Fieldton's effective property tax rate to other counties in Texas and the national median. For comparison, the 79326 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Fieldton 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 Fieldton Tax Rate
0.63%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fieldton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79326 | 0.34% | 0.46% | 0.63% | 0.78% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Fieldton, Texas
In Fieldton, 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 Fieldton, 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 median home price in Fieldton stands at $140,100, with tax bills ranging from $497 at the 25th percentile to $3,188 at the 90th percentile. The highest and lowest median tax bills, both at $867, are found in the zip code 79326. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fieldton Assessed Value
$140,100
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 Fieldton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79326 | $66,000 | $82,860 | $140,100 | $338,245 | $396,700 |
Source: Ownwell
Property Tax Bills Across Fieldton, Texas
In Fieldton, property tax bills are calculated by multiplying the assessed value of a home by the local property tax rate. The assessed value is typically a percentage of the market value, which is determined by the county's appraisal district. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For homeowners in Fieldton, the median home price is $140,100. Property tax bills can vary significantly, with the 25th percentile at $497 and the 75th percentile at $1,552. At the 90th percentile, tax bills reach up to $3,188. These figures illustrate the range of tax obligations homeowners might face, depending on their property's assessed value and any exemptions they qualify for. Compared to the national median property tax rate of 0.99%, Fieldton's property taxes can be relatively moderate, but they still represent a significant expense for homeowners. Understanding how these taxes are calculated can help residents better manage their financial planning and take advantage of any available tax relief options.
Average Fieldton Tax Bill
$867
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Fieldton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79326 | $399 | $497 | $867 | $1,552 | $3,188 |
Source: Ownwell