Tow, Texas Property Taxes
The median property tax rate in Tow, TX is 1.32%, considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Tow at $148,890, the typical annual property tax bill reaches $1,493, which is below the national median of $2,690. Property taxes in Tow 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 Tow'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 Tow 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
Tow, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$1,965
$1,824
$1,148
Average Tax Savings
Ownwell’s TOW Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TOW with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TOW to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in TOW. 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 Tow, Texas
Property taxes in TOW, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in TOW is 1.32%, higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within TOW set these rates annually, and they can vary significantly across different neighborhoods. Each year, TOW 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 TOW's effective property tax rate to other counties in Texas and the national median. For comparison, the 78672 zip code has the highest median property tax rate of 1.32%, while the 78672 zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with TOW provides valuable insights into the varying tax landscape across Llano County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tow Tax Rate
1.32%
Average Llano County Tax Rate
1.32%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tow, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78672 | 0.35% | 0.68% | 1.32% | 1.41% | 1.41% |
Source: Ownwell
$1,148
Average Tow Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Tow, Texas
In TOW, 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 Llano 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 TOW, 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 TOW helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In TOW, the highest median tax bill is found in the 78672 zip code, with a value of $1,493.
Average Tow Assessed Value
$148,890
Average Llano County Assessed Value
$250,390
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tow, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78672 | $32,336 | $78,490 | $148,890 | $256,265 | $380,264 |
Source: Ownwell
$1,148
Average Tow Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Tow, Texas
In TOW, Llano County, TX, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. For instance, with a median home price of $148,890, homeowners can expect a range of tax bills based on various factors. The 25th percentile tax bill is around $568, while the 75th percentile reaches $2,769, and the 90th percentile can be as high as $4,695. These figures illustrate the variability and potential burden on homeowners. Several factors influence the tax bill, including the assessed property value and the specific tax rate set by local authorities. Given that the national median property tax rate is 0.99%, homeowners in TOW may find themselves paying more or less depending on local assessments and rates. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By analyzing the assessed value and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying. This can lead to significant savings, making homeownership more affordable and less stressful.
Average Tow Tax Bill
$1,493
Average Llano County Tax Bill
$2,837
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Tow, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78672 | $242 | $568 | $1,493 | $2,769 | $4,695 |
Source: Ownwell
$1,148
Average Tow Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Llano Appraisal District | |
| Website | esearch.llanocad.net |
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