Idalou, Texas Property Taxes
The median property tax rate in Idalou, TX is 1.91%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Idalou, the typical annual property tax bill reaches $3,538, exceeding the national median of $2,690. Property taxes in Idalou are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Idalou'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 Idalou 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
Idalou, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Idalou, Texas Tax Savings
Ownwell’s Idalou Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Idalou with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Idalou 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 Idalou. 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 Idalou, Texas
Property taxes in Idalou, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Idalou is 1.91%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Idalou set these rates annually, and they can vary significantly across different neighborhoods. Each year, Idalou 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 Idalou's effective property tax rate to other counties in Texas and the national median. For comparison, the 79329 zip code has the highest median property tax rate of 1.91%, while the same zip code also has the lowest median tax rate of 1.91%. Understanding how these cities compare with Idalou provides valuable insights into the varying tax landscape across Lubbock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Idalou Tax Rate
1.91%
Average Lubbock County Tax Rate
1.86%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Idalou, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79329 | 1.38% | 1.59% | 1.91% | 2.09% | 2.09% |
Source: Ownwell
$1,148
Average Idalou Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Idalou, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Idalou, Texas. 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 Lubbock 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 Idalou, 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. For instance, the median home price in Idalou is $189,402, with tax bills ranging significantly. The 25th percentile tax bill is around $2,040, while the 75th percentile tax bill reaches up to $5,217, and the 90th percentile tax bill can be as high as $7,214. The zip code 79329 has the highest and lowest median tax bill at $3,538. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Idalou Assessed Value
$189,402
Average Lubbock County Assessed Value
$190,386
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Idalou, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79329 | $57,349 | $110,689 | $189,402 | $298,052 | $433,788 |
Source: Ownwell
$1,148
Average Idalou Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Idalou, Texas
In Idalou, located in Lubbock 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 Lubbock County Appraisal District, which evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. In Idalou, property tax bills can vary significantly, with the 25th percentile at $2,040 and the 90th percentile reaching up to $7,214. Homeowners in Idalou face a tax rate that can be higher than the national median property tax rate of 0.99%, making it crucial to ensure their property is accurately assessed. Ownwell helps homeowners by providing expert property tax appeal and exemption services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can assist in filing appeals, ensuring homeowners pay only their fair share. This service can result in significant savings, reducing the financial burden on property owners in Idalou.
Average Idalou Tax Bill
$3,538
Average Lubbock County Tax Bill
$3,513
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Idalou, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79329 | $1,155 | $2,040 | $3,538 | $5,217 | $7,214 |
Source: Ownwell
$1,148
Average Idalou 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 | |
|---|---|
| Lubbock Appraisal District | |
| Phone | (806) 762-5000 |
| Website | lubbockcad.org |
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