Loving County, Texas Property Taxes
The median property tax rate in Loving County is 1.19%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Loving County, the typical annual property tax bill reaches $149, significantly lower than the national median of $2,690. Property taxes in Loving County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Loving County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Mentone or another part of Loving County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Loving County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$215
$200
Ownwell’s Loving County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Loving County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Loving County to estimate your property tax bill. This tool provides valuable insight into potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Loving County, Texas
Property taxes in Loving County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Loving County is 1.19%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Loving County set these rates annually, and they can vary significantly between different areas within the county. Each year, Loving County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Loving County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Mentone has one of the higher property tax rates in Texas at 1.19%, while it also boasts one of the lowest at 1.19%. Analyzing how Loving County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Loving County Tax Rate
1.19%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Loving County, Texas
In Loving County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Loving County Appraisal District. The assessed value, however, 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 in Loving County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Loving County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Loving County, the median home price is $18,100. The highest median tax bill is $149 in Mentone, which is also the city with the lowest median tax bill.
Average Loving County Assessed Value
$18,100
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Bills Across Loving County, Texas
In Loving County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location, size, and market conditions can influence the assessed value. For homeowners in Loving County, the median home price is $18,100, resulting in varying tax bills. At the 25th percentile, homeowners pay around $59, while those in the 75th percentile face a bill of approximately $304. At the 90th percentile, the tax bill can reach up to $881. Interestingly, the highest and lowest median tax bills in the county are both recorded at $149 in the city of Mentone. Compared to the national median property tax rate of 0.99%, these figures highlight how localized factors significantly impact property tax obligations in this region. Understanding these calculations helps homeowners budget effectively and anticipate their annual financial commitments.
Average Loving County Tax Bill
$149
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690