Lipscomb, Lipscomb County, Texas Property Taxes
Median Lipscomb, TX effective property tax rate: 0.79%, significantly lower than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Lipscomb, TX home value: $74,305
Median annual Lipscomb, TX tax bill: $573, $1,827 lower than the national median property tax bill of $2,400.
How are property taxes in Lipscomb calculated?
Property taxes in Lipscomb, 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 Lipscomb’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lipscomb, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lipscomb, Lipscomb County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.79%
Estimate Property Tax Bill
$587
$545
Property Tax Rates Across Lipscomb, Lipscomb County, Texas
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 Lipscomb Tax Rate
0.79%
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 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 Lipscomb, Lipscomb County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79056 | 0.69% | 0.77% | 0.79% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Lipscomb, Lipscomb County, Texas
When examining property taxes in Lipscomb, 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 May. 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 Lipscomb. For example, the median home price in Lipscomb is $74,305, with tax bills ranging significantly across the county. 79056 has the highest median home price at $74,305.
Property Tax Assessment Values Across Lipscomb, Lipscomb County, Texas
Source: Ownwell
$16,810
$45,558
$74,305
Median Lipscomb Market Value
$74,305
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 Lipscomb, Lipscomb County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79056 | $4,385 | $31,925 | $74,305 | $115,088 | $220,395 |
Source: Ownwell
Property Tax Bills Across Lipscomb, Lipscomb County, Texas
In Lipscomb, TX, property tax bills are determined by applying the local tax rate to the assessed value of a property. The assessed value is based on the market value of the home, which in Lipscomb has a median price of $74,305. The property tax rate in this region can result in varying tax bills, with the 25th percentile at $246 and the 75th percentile reaching $900. For those at the 90th percentile, tax bills can escalate to $1,769, highlighting the impact of property valuation on tax obligations. Compared to the national median property tax bill of $2,400, Lipscomb's taxes are relatively moderate, yet they still pose a significant financial consideration for homeowners.
Ownwell can assist homeowners in Lipscomb by reviewing their property assessments to ensure accuracy and fairness. By identifying discrepancies or opportunities for exemptions, Ownwell helps reduce the financial burden of property taxes. This service can lead to considerable savings, allowing homeowners to allocate their resources more effectively while ensuring compliance with local tax regulations.
Median Lipscomb Tax Bill
$573
Median Lipscomb County Tax Bill
$613
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Lipscomb, Lipscomb County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79056 | $32 | $246 | $573 | $900 | $1,769 |
Source: Ownwell