Lone Star, Texas Property Taxes
The median property tax rate in Lone Star, TX is 0.87%, which is significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lone Star at $57,430, the typical annual property tax bill is $337, well below the national median of $2,690. Property taxes in Lone Star are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Lone Star'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 Lone Star 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
Lone Star, 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 Lone Star Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lone Star with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lone Star 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 Lone Star, Texas
Property taxes in Lone Star, Texas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Lone Star is 1.24%, which is higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Lone Star set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lone Star 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 Lone Star's effective property tax rate to other counties in Texas and the national median. For comparison, the 75668 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Lone Star 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 Lone Star Tax Rate
0.87%
Average Marion County Tax Rate
0.88%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lone Star, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75668 | 0.21% | 0.35% | 0.87% | 1.28% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Lone Star, Texas
In Lone Star, 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 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 Lone Star, 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 Lone Star is $57,430, with tax bills ranging from $156 at the 25th percentile to $1,217 at the 90th percentile. The zip code 75668 has the highest and lowest median tax bill of $337. 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 Lone Star helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lone Star Assessed Value
$57,430
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 Lone Star, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75668 | $10,474 | $22,960 | $57,430 | $120,620 | $189,192 |
Source: Ownwell
Property Tax Bills Across Lone Star, Texas
In Lone Star, Marion County, TX, property tax bills are calculated based on the assessed value of a homeowner's property. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $57,430, homeowners can expect varying tax bills. Factors such as property location, improvements, and market conditions influence the assessed value. Homeowners in Lone Star typically see tax bills ranging from $156 at the 25th percentile to $1,217 at the 90th percentile. The median tax bill stands at $337, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable in Lone Star compared to other regions. Understanding these factors helps homeowners anticipate their annual property tax expenses, enabling better financial planning. Moreover, knowing how the tax bill is determined can empower homeowners to seek appeals or exemptions if they believe their property has been overassessed.
Average Lone Star Tax Bill
$337
Average Marion County Tax Bill
$470
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lone Star, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75668 | $90 | $156 | $337 | $670 | $1,217 |
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 |