Springlake, Texas Property Taxes
The median property tax rate in Springlake, TX is 1.66%, slightly lower than the Texas state median of 1.67% but considerably higher than the national median of 0.99%. With the median home value in Springlake at $43,800, the typical annual property tax bill is $655, which is well below the national median of $2,690. Property taxes in Springlake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Springlake'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 Springlake 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
Springlake, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$727
$673
Ownwell’s SPRINGLAKE Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in SPRINGLAKE with just two inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRINGLAKE to provide an estimated property tax bill. This invaluable tool helps you grasp potential tax obligations. For those curious about neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Springlake, Texas
Property taxes in Springlake, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springlake is 1.66%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Springlake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springlake 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 Springlake's effective property tax rate to other counties in Texas and the national median. For comparison, the 79082 zip code has the highest median property tax rate of 1.66%, while the 79082 zip code also has the lowest median tax rate of 1.66%. Understanding how these cities compare with Springlake 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 Springlake Tax Rate
1.66%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79082 | 0.84% | 1.25% | 1.66% | 2.53% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Springlake, Texas
In Springlake, 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 Springlake, 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 Springlake is $43,800, with tax bills ranging from $236 at the 25th percentile to $2,447 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 79082, with a value of $655. 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 Springlake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Springlake Assessed Value
$43,800
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 Springlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79082 | $4,474 | $14,320 | $43,800 | $98,340 | $176,284 |
Source: Ownwell
Property Tax Bills Across Springlake, Texas
In Springlake, located in Lamb County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Springlake, the median home price is $43,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $236 and the 75th percentile reaching $1,278. At the higher end, the 90th percentile tax bill can be as much as $2,447. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Springlake's property tax rates are reflective of the local economic conditions and funding requirements. Homeowners should be aware of these factors as they directly influence their annual financial obligations.
Average Springlake Tax Bill
$655
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Springlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79082 | $85 | $236 | $655 | $1,278 | $2,447 |
Source: Ownwell