Mart, Texas Property Taxes
The median property tax rate in Mart, TX is 0.29%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Mart, the typical annual property tax bill reaches $461, well below the national median of $2,690. Property taxes in Mart 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 Mart'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 Mart 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
Mart, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$541
$501
Ownwell’s MART Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MART with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MART 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 Mart, Texas
Property taxes in MART, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MART is 1.68%, significantly higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within MART set these rates annually, and they can vary significantly across different neighborhoods. Each year, MART 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 MART's effective property tax rate to other counties in Texas and the national median. For comparison, the 75001 zip code has the highest median property tax rate of 2.18%, while the 79821 zip code has the lowest median tax rate of 1.10%. Understanding how these cities compare with MART provides valuable insights into the varying tax landscape across Limestone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mart Tax Rate
0.29%
Average Limestone County Tax Rate
1.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | 0.11% | 0.18% | 0.29% | 0.37% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Mart, Texas
In MART, 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 Limestone 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 MART, 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 MART helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 76664 with a bill of $461.00, while the lowest is also 76664 with the same bill.
Average Mart Assessed Value
$186,690
Average Limestone County Assessed Value
$107,545
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | $32,069 | $83,348 | $186,690 | $353,155 | $611,835 |
Source: Ownwell
Property Tax Bills Across Mart, Texas
In MART, located in Limestone County, TX, property tax bills are calculated based on the assessed value of a home. The median home price in MART is $186,690. The assessed value is determined by the local tax assessor's office, which evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in MART can expect significant variability in their tax bills. The 25th percentile tax bill is around $199, while the 75th percentile tax bill rises to $861. For those at the 90th percentile, the tax bill can reach up to $1,434. These figures highlight how property taxes can vary significantly even within the same area. Compared to the national median property tax rate of 0.99%, MART's property tax rates and resulting bills can be quite different, affecting homeowners' annual financial planning. Understanding these factors is crucial for homeowners looking to manage their expenses effectively.
Average Mart Tax Bill
$461
Average Limestone County Tax Bill
$971
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | $80 | $199 | $461 | $861 | $1,434 |
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 | |
|---|---|
| Limestone Appraisal District | |
| Website | esearch.limestonecad.com |