Follett, Lipscomb County, Texas Property Taxes

Name: Property Tax Bills Across Follett, Lipscomb County, Texas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Follett, TX effective property tax rate: 2.52%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Follett, TX home value: $33,370
Median annual Follett, TX tax bill: $683, $1,717 lower than the national median property tax bill of $2,400.

How are property taxes in Lipscomb County calculated?

Property taxes in Follett, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Follett’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Follett, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Follett, Lipscomb County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.52%

Estimate Property Tax Bill

$841

$780

Ownwell’s Follett Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Follett with just two data points. By entering your property's estimated assessed value, our calculator applies Follett’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lipscomb County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Follett, Lipscomb County, Texas

Local government entities determine property tax rates, which can vary significantly within a state. Each year, counties calculate their necessary budget to provide services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the process followed annually.

Follett, located in Lipscomb County, Texas, has an effective property tax rate of 2.52%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to the national median property tax bill of $2,400, residents in Follett may find their property tax burden to be significantly higher. Despite the variations in tax rates across different regions, understanding these rates can help property owners make informed decisions about property tax appeals and exemptions. By being aware of how these rates compare within the state and nationally, property owners in Follett can better navigate their tax obligations and potentially reduce their tax burdens.

Property Tax Rates Across Follett, Lipscomb County, Texas

Source: Ownwell

0.79%

2.30%

3.82%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Follett Tax Rate

2.52%

Median Effective Lipscomb County Tax Rate

2.36%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Follett, Lipscomb County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
79034	1.33%	1.99%	2.52%	3.06%	3.11%

Source: Ownwell

Property Tax Assessment Values Across Follett, Lipscomb County, Texas

When examining property taxes in Follett, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lipscomb County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lipscomb County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Follett.

For example, the median home price in Follett is $33,370, with tax bills ranging significantly across the county. Zip code 79034 has the highest median home price at $33,370.

Property Tax Assessment Values Across Follett, Lipscomb County, Texas

Source: Ownwell

$16,810

$45,558

$74,305

Median Follett Market Value

$33,370

Median Lipscomb County Market Value

$31,530

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Follett, Lipscomb County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
79034	$3,280	$11,840	$33,370	$67,390	$86,450

Source: Ownwell

Property Tax Bills Across Follett, Lipscomb County, Texas

In Follett, located in Lipscomb 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 Follett is $33,370, and the property tax rate is applied to this assessed value to calculate the tax bill. The median property tax bill in Follett is $683, which is significantly lower than the national median of $2,400. Factors influencing the tax bill include the property's assessed value and the local tax rate. Homeowners in Follett can experience a range of tax bills, with the 25th percentile at $270 and the 90th percentile reaching up to $2,072. High property taxes can significantly impact homeowners, often adding a substantial amount to annual expenses. Ownwell assists homeowners in Follett by offering property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners achieve significant savings on their property taxes.

Property Tax Bills Across Follett, Lipscomb County, Texas

Source: Ownwell

$199

$621

$1,043

Median Follett Tax Bill

$683

Median Lipscomb County Tax Bill

$613

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Follett, Lipscomb County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
79034	$101	$270	$683	$1,392	$2,072

Source: Ownwell