Perryton, Texas Property Taxes
The median property tax rate in Perryton, TX is 1.77%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Perryton at $88,700, the typical annual property tax bill reaches $1,566, which is lower than the national median of $2,690. Property taxes in Perryton 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 Perryton'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 Perryton 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
Perryton, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$1,570
$1,457
Ownwell’s Perryton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perryton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perryton 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 Perryton, Texas
Property taxes in Perryton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perryton is 1.77%, higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Perryton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perryton 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 Perryton's effective property tax rate to other counties in Texas and the national median. For comparison, the 79070 zip code has the highest median property tax rate of 1.77%, while the same 79070 zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with Perryton provides valuable insights into the varying tax landscape across Lipscomb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Perryton Tax Rate
1.77%
Average Lipscomb County Tax Rate
2.36%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perryton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79070 | 1.33% | 1.60% | 1.77% | 1.81% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Perryton, Texas
In Perryton, 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 Lipscomb 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. 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 Perryton is $88,700, with tax bills ranging from $1,281 at the 25th percentile to $1,743 at the 90th percentile. The zip code 79070 has both the highest and lowest median tax bills at $1,566. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Perryton Assessed Value
$88,700
Average Lipscomb County Assessed Value
$31,530
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Perryton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79070 | $60,937 | $77,358 | $88,700 | $91,620 | $92,880 |
Source: Ownwell
Property Tax Bills Across Perryton, Texas
In Perryton, located in Lipscomb County, TX, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the county appraisal district and is typically a percentage of the home's market value. For example, with a median home price of $88,700, the tax bill can vary significantly based on the specific assessed value and applicable exemptions. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill is $1,281, while the 75th percentile reaches $1,662. At the 90th percentile, homeowners might see a tax bill as high as $1,743. These variations reflect differences in property values and available exemptions. For homeowners, understanding these factors is crucial as property taxes represent a significant annual expense. Comparing Perryton's rates with the national median property tax rate of 0.99% can help homeowners gauge their relative tax burden and plan accordingly.
Average Perryton Tax Bill
$1,566
Average Lipscomb County Tax Bill
$613
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Perryton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79070 | $858 | $1,281 | $1,566 | $1,662 | $1,743 |
Source: Ownwell