Littlefield, Texas Property Taxes
The median property tax rate in Littlefield, TX is 2.23%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Littlefield, the typical annual property tax bill reaches $634, which is significantly lower than the national median of $2,690. Property taxes in Littlefield 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 Littlefield'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 Littlefield 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
Littlefield, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$802
$744
Ownwell’s Littlefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Littlefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Littlefield 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 Littlefield, Texas
Property taxes in Littlefield, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Littlefield is 2.23%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Littlefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Littlefield 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 Littlefield's effective property tax rate to other counties in Texas and the national median. For comparison, the 79339 zip code has the highest median property tax rate of 2.23%, while the same zip code also has the lowest median tax rate of 2.23%. Understanding how these cities compare with Littlefield 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 Littlefield Tax Rate
2.23%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Littlefield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79339 | 1.17% | 1.37% | 2.23% | 2.60% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Littlefield, Texas
In Littlefield, 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 Littlefield, 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. The median home price in Littlefield is $35,960, with tax bills ranging from $247 at the 25th percentile to $1,687 at the 75th percentile. Notably, the highest and lowest median tax bills in the area are both $634, found in the 79339 zip code. 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 Littlefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Littlefield Assessed Value
$35,960
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 Littlefield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79339 | $4,140 | $13,430 | $35,960 | $93,110 | $169,548 |
Source: Ownwell
Property Tax Bills Across Littlefield, Texas
In Littlefield, TX, property tax bills are calculated based on the assessed value of your home, which is determined by the Lamb County Appraisal District. This assessed value is then multiplied by the local tax rate to determine your annual tax bill. For homeowners, the median home price in Littlefield is $35,960, which is significantly lower than the national median. The tax bills can vary widely, with the 25th percentile at $247 and the 75th percentile at $1,687, showing a broad range depending on property values and specific tax rates. Homeowners in Littlefield can expect their property tax bills to be influenced by factors such as property size, location, and any applicable exemptions. For instance, the highest median tax bill in the area is $634, which is relatively modest compared to many other regions. Understanding these factors is crucial for homeowners to anticipate their tax liabilities and manage their finances effectively. The impact of these taxes is significant, as they contribute to essential public services and infrastructure within the community.
Average Littlefield Tax Bill
$634
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Littlefield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79339 | $97 | $247 | $634 | $1,687 | $3,218 |
Source: Ownwell