Thrall, Texas Property Taxes
The median property tax rate in Thrall, TX is 1.14%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Thrall at $329,595, the typical annual property tax bill amounts to $4,010, surpassing the national median of $2,690. Property taxes in Thrall are based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural lands. Understanding Thrall'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 Thrall or another part of Lee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thrall, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$3,757
$3,487
Ownwell’s Thrall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thrall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thrall 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 Lee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Thrall, Texas
Property taxes in Thrall, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thrall is 1.14%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Thrall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thrall 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 Thrall's effective property tax rate to other counties in Texas and the national median. For comparison, the 76578 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Thrall 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 Thrall Tax Rate
1.14%
Average Lee County Tax Rate
1.46%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thrall, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76578 | 0.42% | 0.67% | 1.14% | 1.31% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Thrall, Texas
In Thrall, 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 Thrall, 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, the median home price in Thrall is $329,595, with annual tax bills ranging from $3,007 at the 25th percentile to $9,678 at the 90th percentile. The zip code 76578 has both the highest and lowest median tax bill at $4,010. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thrall Assessed Value
$329,595
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 Thrall, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76578 | $235,732 | $285,612 | $329,595 | $505,560 | $1,102,323 |
Source: Ownwell
Property Tax Bills Across Thrall, Texas
In Thrall, located in Lee County, TX, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Thrall, the median home price stands at $329,595. Factors influencing the tax bill include property location, size, and market conditions. Tax bills in Thrall can vary significantly. For instance, the 25th percentile tax bill is around $3,007, while the 75th percentile tax bill reaches up to $5,440. The top 10% of tax bills can be as high as $9,678. Compared to the national median property tax rate of 0.99%, Thrall's property tax rate reflects the local economic conditions and public service funding needs. Homeowners in Thrall should be aware of these factors as they directly impact their annual financial obligations and can influence decisions related to property investment and homeownership.
Average Thrall Tax Bill
$4,010
Average Lee County Tax Bill
$2,398
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Thrall, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76578 | $961 | $3,007 | $4,010 | $5,440 | $9,678 |
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 |