Spade, Texas Property Taxes
The median property tax rate in SPADE, TX is 1.12%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $37,545, the typical annual property tax bill in SPADE is $360, significantly below the national median of $2,690. Property taxes in SPADE are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural use. Understanding SPADE's property tax system and exploring available exemptions can lead to substantial annual savings. Whether you're in the heart of SPADE or another part of Lamb County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spade, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$421
$390
Ownwell’s SPADE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPADE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPADE 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 Spade, Texas
Property taxes in SPADE, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in SPADE is 1.12%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within SPADE set these rates annually, and they can vary significantly across different neighborhoods. Each year, SPADE 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 SPADE's effective property tax rate to other counties in Texas and the national median. For comparison, the 79369 zip code has the highest median property tax rate of 1.12%, while the 79369 zip code has the lowest median tax rate of 1.12%. Understanding how these cities compare with SPADE 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 Spade Tax Rate
1.12%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spade, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79369 | 0.71% | 0.85% | 1.12% | 1.60% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Spade, Texas
In SPADE, 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 SPADE, 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 SPADE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $360 in the 79369 zip code, while the lowest median tax bill is also $360 in the same zip code.
Average Spade Assessed Value
$37,545
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 Spade, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79369 | $14,355 | $21,060 | $37,545 | $88,510 | $102,235 |
Source: Ownwell
Property Tax Bills Across Spade, Texas
In SPADE, Lamb County, TX, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in SPADE is $37,545, a significant factor in determining the tax bill. Local tax authorities assess properties annually to establish their taxable value. This assessed value is then multiplied by the local tax rate to calculate the property tax bill. For homeowners in SPADE, the tax bill can vary widely. For instance, the tax bill at the 25th percentile is $216, while at the 75th percentile, it rises to $924. Those at the 90th percentile can expect to pay around $1,396. These figures illustrate the range of property tax burdens within the community, influenced by property values and assessment practices. Compared to the national median property tax rate of 0.99%, SPADE's property tax rates reflect the local economic conditions and property values, impacting homeowners' annual expenses significantly.
Average Spade Tax Bill
$360
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Spade, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79369 | $112 | $216 | $360 | $924 | $1,396 |
Source: Ownwell