Hart, Texas Property Taxes
The median property tax rate in Hart, TX is 1.44%, notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $87,130 in Hart, the typical annual property tax bill amounts to $1,244, which is below the national median of $2,690. Property taxes in Hart are based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Hart'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 Hart 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
Hart, 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 HART Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HART with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HART 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 Hart, Texas
Property taxes in HART, Texas, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in HART is 1.44%, significantly higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within HART set these rates annually, and they can vary significantly across different neighborhoods. Each year, HART 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 HART's effective property tax rate to other counties in Texas and the national median. For comparison, the 79043 zip code has both the highest and lowest median property tax rate of 1.44%. Understanding how these cities compare with HART 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 Hart Tax Rate
1.44%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79043 | 0.69% | 1.02% | 1.44% | 1.62% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Hart, Texas
In HART, 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 HART, 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. Being aware of these valuation processes in HART helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 79043 at $1244, which also happens to be the lowest median tax bill in the area.
Average Hart Assessed Value
$87,130
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 Hart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79043 | $44,260 | $77,320 | $87,130 | $92,120 | $155,272 |
Source: Ownwell
Property Tax Bills Across Hart, Texas
In HART, located in Lamb County, TX, property tax bills are calculated based on the assessed value of a home, which is often a percentage of the market value. The median home price in HART is $87,130. Homeowners' tax bills can vary significantly; for instance, the 25th percentile tax bill is $840, while the 75th percentile reaches $1,446. At the 90th percentile, the tax bill can go up to $1,707. These variations are influenced by several factors, including property value assessments and local tax rates. Compared to the national median property tax rate of 0.99%, homeowners in HART experience a range of tax bills that reflect the local economic conditions and property values. For example, the highest median tax bill in the area is $1,244, found in the 79043 zip code. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Hart Tax Bill
$1,244
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Hart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79043 | $294 | $840 | $1,244 | $1,446 | $1,707 |
Source: Ownwell