Normangee, Texas Property Taxes
The median property tax rate in Normangee, TX is 0.57%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $258,760 in Normangee, the typical annual property tax bill amounts to $1,373, which is well below the national median of $2,690. Property taxes in Normangee are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Normangee's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Normangee or another part of Madison County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Normangee, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,475
$1,369
Ownwell’s Normangee Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Normangee. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Normangee to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Normangee, Texas
Property taxes in Normangee, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Normangee is 0.57%, lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Normangee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Normangee 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 Normangee's effective property tax rate to other counties in Texas and the national median. For comparison, the 77871 zip code has the highest median property tax rate of 0.57%, while the 77871 zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Normangee provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Normangee Tax Rate
0.57%
Average Madison County Tax Rate
0.95%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Normangee, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77871 | 0.12% | 0.33% | 0.57% | 1.15% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Normangee, Texas
In Normangee, 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 Madison 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 Normangee, 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. The highest median tax bill in Normangee is $1373 in zip code 77871, while the lowest median tax bill is also $1373 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Normangee Assessed Value
$258,760
Average Madison County Assessed Value
$154,920
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Normangee, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77871 | $33,990 | $106,800 | $258,760 | $508,880 | $891,506 |
Source: Ownwell
Property Tax Bills Across Normangee, Texas
In Normangee, located in Madison County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Normangee can expect a property tax bill that varies significantly depending on their property's value. For instance, the tax bill at the 25th percentile is around $530, while at the 75th percentile, it jumps to approximately $2886, and it can reach as high as $5260 at the 90th percentile. The local tax rate in Normangee is influenced by various factors, including funding needs for public services like schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Normangee's property taxes can be quite variable. Homeowners need to consider these taxes as a significant part of their annual expenses, which can impact their financial planning and overall cost of homeownership.
Average Normangee Tax Bill
$1,373
Average Madison County Tax Bill
$1,166
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Normangee, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77871 | $199 | $530 | $1,373 | $2,886 | $5,260 |
Source: Ownwell