Martin County, Texas Property Taxes
The median property tax rate in Martin County is 0.22%, 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 Martin County being $66,090, the typical annual property tax bill is approximately $154, far below the national median of $2,690. Property taxes in Martin County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Martin County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Stanton or another part of Martin County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Martin County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.22%
Estimate Property Tax Bill
$145
$135
Ownwell’s Martin County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Martin County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Martin County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Martin County, Texas
Property taxes in Martin County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Martin County is 0.22%, which is lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Martin County set these rates annually, and they can vary significantly between different areas within the county. Each year, Martin County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of El Paso has one of the higher property tax rates in Texas at 2.24%, while the city of Houston boasts one of the lowest at 1.82%. Analyzing how Martin County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Martin County Tax Rate
0.22%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martin County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ackerly | 0.21% | 0.22% | 0.22% | 0.27% | 0.28% |
| Andrews | N/A | N/A | N/A | N/A | N/A |
| Knott | 0.21% | 0.21% | 0.22% | 0.22% | 0.24% |
| Lamesa | 0.21% | 0.21% | 0.22% | 0.22% | 0.23% |
| Lenorah | 0.20% | 0.22% | 0.22% | 0.23% | 0.27% |
| Midland | 0.19% | 0.22% | 0.22% | 0.28% | 0.28% |
| Stanton | 0.21% | 0.22% | 0.22% | 0.27% | 0.28% |
| Tarzan | 0.21% | 0.22% | 0.22% | 0.23% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Martin County, Texas
In Martin County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Martin County Appraisal District. The assessed value, however, 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. Assessment notices in Martin County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Knott has the highest median tax bill at $300, while Stanton has the lowest at $141. Being aware of these valuation processes in Martin County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Martin County Assessed Value
$66,090
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martin County, Texas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ackerly | $14,794 | $36,150 | $90,780 | $136,940 | $193,702 |
| Andrews | N/A | N/A | N/A | N/A | N/A |
| Knott | $36,893 | $63,730 | $119,505 | $227,342 | $365,074 |
| Lamesa | $72,164 | $89,490 | $123,580 | $166,900 | $183,138 |
| Lenorah | $26,456 | $51,030 | $109,410 | $206,250 | $310,468 |
| Midland | $36,016 | $67,310 | $109,670 | $303,020 | $500,522 |
| Stanton | $14,460 | $30,328 | $58,940 | $119,762 | $201,800 |
| Tarzan | $54,206 | $83,770 | $114,560 | $202,325 | $280,022 |
Source: Ownwell
Property Tax Bills Across Martin County, Texas
In Martin County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Martin County experience varying property tax bills depending on several factors such as the location and value of their property. For example, Knott has the highest median tax bill at $300.00, while Stanton has the lowest at $141.00. The property tax rate in Martin County is applied to the assessed value to determine the annual tax bill. For a home with a median price of $66,090, tax bills can range significantly. Tax bills in the 25th percentile are around $79, while those in the 75th percentile reach $300, and the 90th percentile can be as high as $488. This variability affects homeowners differently, impacting their financial planning and budgeting. Compared to the national median property tax rate of 0.99%, Martin County's tax rates offer a range of financial implications for its residents.
Average Martin County Tax Bill
$154
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690