Lincoln, Texas Property Taxes
The median property tax rate in Lincoln, TX is 1.20%, higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lincoln, the typical annual property tax bill reaches $1,793, which is below the national median of $2,690. Property taxes in Lincoln are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Lincoln'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 Lincoln 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
Lincoln, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,544
$2,354
Ownwell’s Lincoln Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln 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 Lincoln, Texas
Property taxes in Lincoln, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 1.20%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln 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 Lincoln's effective property tax rate to other counties in Texas and the national median. For comparison, the 78948 zip code has the highest median property tax rate of 1.20%, while the 78948 zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Lincoln 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 Lincoln Tax Rate
1.20%
Average Lee County Tax Rate
1.46%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78948 | 0.36% | 0.77% | 1.20% | 1.46% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Texas
In Lincoln, 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 Lincoln, 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. For instance, in Lincoln, the median home price is $212,005, with annual tax bills ranging from $613 at the 25th percentile to $5,956 at the 90th percentile. The zip code 78948 has both the highest and lowest median tax bill at $1,793. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lincoln Assessed Value
$212,005
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 Lincoln, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78948 | $14,354 | $61,915 | $212,005 | $447,955 | $713,204 |
Source: Ownwell
Property Tax Bills Across Lincoln, Texas
Property tax bills in Lincoln, Lee County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, reflecting the market value of the property. Homeowners in Lincoln see a range of tax bills depending on their property's value. For instance, the 25th percentile of tax bills is around $613, while the 75th percentile reaches up to $3,790, and the 90th percentile can be as high as $5,956. This wide range indicates significant variability in property values and corresponding tax burdens. The median home price in Lincoln stands at $212,005, and the property tax rate is influenced by local budget needs for services like schools, public safety, and infrastructure. Homeowners should be aware that higher property values result in higher tax bills, which can impact their overall financial planning. Compared to the national median property tax rate of 0.99%, Lincoln's tax rates reflect the specific economic and budgetary conditions of Lee County.
Average Lincoln Tax Bill
$1,793
Average Lee County Tax Bill
$2,398
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78948 | $187 | $613 | $1,793 | $3,790 | $5,956 |
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 |