Oakville, Texas Property Taxes
The median property tax rate in Oakville, TX is 1.49%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Oakville at $76,492, the typical annual property tax bill reaches $1,025, exceeding the national median of $2,690. Property taxes in Oakville 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 Oakville'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 Oakville 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
Oakville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,140
$1,055
Ownwell’s Oakville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakville 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 Oakville, Texas
Property taxes in Oakville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakville is 1.49%, higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Oakville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakville 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 Oakville's effective property tax rate to other counties in Texas and the national median. For comparison, the 78060 zip code has the highest median property tax rate of 1.49%, while the 78060 zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Oakville provides valuable insights into the varying tax landscape across Live Oak County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakville Tax Rate
1.49%
Average Live Oak County Tax Rate
1.49%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78060 | 1.26% | 1.36% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Oakville, Texas
In Oakville, 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 Live Oak 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 Oakville, 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 Oakville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 78060, both with a median tax bill of $1025.
Average Oakville Assessed Value
$76,492
Average Live Oak County Assessed Value
$67,776
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78060 | $10,650 | $29,740 | $76,492 | $115,298 | $136,595 |
Source: Ownwell
Property Tax Bills Across Oakville, Texas
In Oakville, Live Oak County, TX, property tax bills are calculated based on the assessed value of a home. The median home price in Oakville is $76,492, and the property tax rate is applied to this value to determine the tax bill. Several factors influence the tax bill, including the home's market value, local tax rates, and any applicable exemptions. For homeowners in Oakville, the 25th percentile tax bill is $575, while the 75th percentile tax bill is $1,293. At the 90th percentile, the tax bill can reach up to $1,698. These figures indicate that property taxes can vary significantly depending on the value of the property and the specific tax rates in the area. Compared to the national median property tax rate of 0.99%, Oakville’s tax bills reflect the local economic conditions and property values. Homeowners need to be aware of these factors as they can impact annual expenses and overall affordability of owning a home in Oakville.
Average Oakville Tax Bill
$1,025
Average Live Oak County Tax Bill
$1,069
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78060 | $159 | $575 | $1,025 | $1,293 | $1,698 |
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 | |
|---|---|
| Live Oak Appraisal District | |
| Website | propertysearch.liveoakcad.org |