Izoro, Texas Property Taxes
The median property tax rate in Izoro, TX is 0.53%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Izoro at $148,640, the typical annual property tax bill reaches $794, well below the national median of $2,690. Property taxes in Izoro 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 Izoro'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 Izoro or another part of Lampasas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Izoro, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$788
$731
Ownwell’s Izoro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Izoro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Izoro 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 Izoro, Texas
Property taxes in Izoro, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Izoro is 0.53%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Izoro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Izoro 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 Izoro's effective property tax rate to other counties in Texas and the national median. For comparison, the 76528 zip code has the highest median property tax rate of 0.53%, while the 76528 zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Izoro provides valuable insights into the varying tax landscape across Lampasas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Izoro Tax Rate
0.53%
Average Lampasas County Tax Rate
0.89%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Izoro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76528 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Izoro, Texas
In Izoro, 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 Lampasas 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 Izoro, 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 Izoro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the highest and lowest median tax bills in the area are both $794, found in the 76528 zip code.
Average Izoro Assessed Value
$148,640
Average Lampasas County Assessed Value
$268,280
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Izoro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76528 | $148,640 | $148,640 | $148,640 | $148,640 | $148,640 |
Source: Ownwell
Property Tax Bills Across Izoro, Texas
Property tax bills in Izoro, located in Lampasas County, TX, are determined by a combination of the assessed value of a property and the local tax rate. The assessed value is based on the market value of the home, which in Izoro has a median price of $148,640. This value is then multiplied by the local tax rate to calculate the annual tax bill. The tax rate in Izoro results in a median property tax bill of $794, which is significantly lower than the national median property tax rate of 0.99%. Various factors influence the assessed value, including property size, location, and any improvements made. For homeowners, this means that maintaining or upgrading their property can result in higher assessed values and, consequently, higher tax bills. Conversely, properties that have depreciated or are in less desirable locations may have lower tax bills. Understanding these factors can help homeowners anticipate and plan for their annual property tax expenses.
Average Izoro Tax Bill
$794
Average Lampasas County Tax Bill
$2,214
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Izoro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76528 | $794 | $794 | $794 | $794 | $794 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Lampasas Appraisal District | |
| Website | www.lampasascad.org |