Ledbetter, Texas Property Taxes
The median property tax rate in Ledbetter, TX is 1.41%, which is considerably higher than the national median of 0.99% but below the Texas state median of 1.67%. With the median home value in Ledbetter at $149,690, the typical annual property tax bill reaches $1,468, lower than the national median of $2,690. Property taxes in Ledbetter 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 Ledbetter'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 Ledbetter 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
Ledbetter, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$2,111
$1,953
Ownwell’s Ledbetter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ledbetter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ledbetter 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 Ledbetter, Texas
Property taxes in Ledbetter, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ledbetter is 1.41%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Ledbetter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ledbetter 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 Ledbetter's effective property tax rate to other counties in Texas and the national median. For comparison, the 78946 zip code has the highest median property tax rate of 1.41%, while the 78946 zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Ledbetter provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ledbetter Tax Rate
1.41%
Average Lee County Tax Rate
1.46%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ledbetter, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78946 | 0.44% | 0.87% | 1.41% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Ledbetter, Texas
In Ledbetter, 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 Lee 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 Ledbetter, 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 Ledbetter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 78946, both standing at $1,468.
Average Ledbetter Assessed Value
$149,690
Average Lee County Assessed Value
$200,180
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ledbetter, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78946 | $20,740 | $49,890 | $149,690 | $324,040 | $575,080 |
Source: Ownwell
Property Tax Bills Across Ledbetter, Texas
In Ledbetter, located in Lee County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this area is $149,690. To calculate the tax bill, the assessed value is multiplied by the local tax rate. Factors such as property size, location, and any applicable exemptions are also considered in the assessment. Homeowners in Ledbetter experience a range of property tax bills. At the 25th percentile, the tax bill is around $603, while at the 75th percentile, it rises to $3,024. For those at the 90th percentile, the tax bill can reach up to $4,719. These variations significantly impact homeowners' finances, making it crucial for them to understand their property's assessed value and any potential exemptions they may qualify for. Compared to the national median property tax rate of 0.99%, homeowners in Ledbetter need to be aware of how their local rates and property values interact to affect their annual tax obligations.
Average Ledbetter Tax Bill
$1,468
Average Lee County Tax Bill
$2,398
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ledbetter, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78946 | $267 | $603 | $1,468 | $3,024 | $4,719 |
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 | |
|---|---|
| Lee Appraisal District | |
| Website | esearch.lee-cad.org |