Mentone, Texas Property Taxes
The median property tax rate in Mentone, TX is 1.19%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Mentone, the typical annual property tax bill is $149, significantly below the national median of $2,690. Property taxes in Mentone are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mentone's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mentone or another part of the city, getting a grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mentone, 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 Mentone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mentone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mentone 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 Mentone, Texas
Property taxes in Mentone, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mentone is 1.19%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Mentone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mentone 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 Mentone's effective property tax rate to other counties in Texas and the national median. For comparison, the 79754 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Mentone provides valuable insights into the varying tax landscape across Loving County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mentone Tax Rate
1.19%
Average Loving County Tax Rate
1.19%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mentone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79754 | 0.37% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Mentone, Texas
In Mentone, 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 Loving 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 Mentone, 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 Mentone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 79754, with a median tax bill of $149, while the lowest median tax bill is also in zip code 79754, with the same median tax bill of $149.
Average Mentone Assessed Value
$18,100
Average Loving County Assessed Value
$18,100
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mentone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79754 | $1,214 | $5,480 | $18,100 | $45,020 | $84,270 |
Source: Ownwell
Property Tax Bills Across Mentone, Texas
In Mentone, located in Loving County, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. The local tax rate, applied to the assessed value, determines the annual tax bill. For instance, with a median home price of $18,100, homeowners in Mentone can expect a property tax bill that varies widely. The 25th percentile tax bill is approximately $59, while the 75th percentile reaches up to $304. At the 90th percentile, the tax bill can be as high as $881. The highest median tax bill in the area is $149, indicating some variation based on specific property values and exemptions. These property tax bills significantly impact homeowners, as they contribute to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners plan their finances and anticipate annual expenses.
Average Mentone Tax Bill
$149
Average Loving County Tax Bill
$149
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mentone, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79754 | $6 | $59 | $149 | $304 | $881 |
Source: Ownwell