Lodi, Texas Property Taxes
The median property tax rate in Lodi, TX is 0.83%, which is notably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lodi at $35,310, the typical annual property tax bill amounts to $374, significantly less than the national median of $2,690. Property taxes in Lodi are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lodi'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 Lodi or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lodi, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Lodi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lodi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lodi 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 Lodi, Texas
Property taxes in Lodi, Texas, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lodi is 1.17%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Lodi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lodi 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 Lodi's effective property tax rate to other counties in Texas and the national median. For comparison, the 75564 zip code has the highest median property tax rate of 1.17%, while the 75564 zip code has the lowest median tax rate of 1.17%. Understanding how these cities compare with Lodi provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lodi Tax Rate
0.83%
Average Marion County Tax Rate
0.88%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lodi, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75564 | 0.32% | 0.49% | 0.83% | 1.46% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Lodi, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lodi, TX. 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 Marion 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 Lodi, 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 Lodi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lodi is $374, found in the 75564 zip code, which is also the zip code with the lowest median tax bill.
Average Lodi Assessed Value
$35,310
Average Marion County Assessed Value
$74,260
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lodi, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75564 | $16,142 | $25,460 | $35,310 | $83,375 | $124,874 |
Source: Ownwell
Property Tax Bills Across Lodi, Texas
In Lodi, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in the area is $35,310. Property taxes are then applied to this assessed value to determine the annual tax bill. For homeowners in Lodi, the tax bill varies significantly: the 25th percentile tax bill is $193, while the 75th percentile tax bill is $642, and the 90th percentile tax bill can go up to $1,117. These figures indicate that while some homeowners pay relatively low property taxes, others might face higher bills depending on the assessed value of their property. Comparatively, the national median property tax rate is 0.99%, making Lodi's property tax rates potentially favorable for some homeowners. However, the impact of these taxes on homeowners can vary widely, affecting their overall cost of living and financial planning. The highest and lowest median tax bills in the area are both $374, located in the 75564 zip code.
Average Lodi Tax Bill
$374
Average Marion County Tax Bill
$470
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lodi, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75564 | $119 | $193 | $374 | $642 | $1,117 |
Source: 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 | |
|---|---|
| Marion Appraisal District | |
| Website | www.marioncad.org |