Knott, Martin County, Texas Property Taxes
Median Knott, TX effective property tax rate: 0.22%, significantly lower than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Knott, TX home value: $119,505
Median annual Knott, TX tax bill: $300, $2,100 lower than the national median property tax bill of $2,400.
How are property taxes in Martin County calculated?
Property taxes in Knott, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Knott’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Knott, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Knott, Martin County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.22%
Estimate Property Tax Bill
$263
$244
Property Tax Rates Across Knott, Martin County, Texas
Local government entities determine tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates its budget needs to provide services and then divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Knott, located in Martin County, Texas, the effective property tax rate is remarkably low at just 0.22%. This is significantly lower than both the Texas state median property tax rate and the national median of 1.02%. Such a low rate can be a major draw for property owners looking to minimize their tax burden. It's important to note that while Knott benefits from a lower tax rate, this doesn't necessarily mean lower property tax bills, as these also depend on property values. However, compared to the national median property tax bill of $2,400, residents of Knott may find themselves paying considerably less. This can make Knott an attractive option for those seeking affordability in property ownership.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Knott Tax Rate
0.22%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Martin County Tax Rate
0.22%
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Knott, Martin County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79748 | 0.21% | 0.21% | 0.22% | 0.22% | 0.24% |
Source: Ownwell
Property Tax Assessment Values Across Knott, Martin County, Texas
When examining property taxes in Knott, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Martin County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Martin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Knott. For example, the median home price in Knott is $119,505, with tax bills ranging significantly across the county. Zip code 79748 has the highest median home price at $119,505.
Property Tax Assessment Values Across Knott, Martin County, Texas
Source: Ownwell
$58,940
$91,260
$123,580
Median Knott Market Value
$119,505
Median Martin County Market Value
$66,090
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Knott, Martin County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79748 | $36,893 | $63,730 | $119,505 | $227,342 | $365,074 |
Source: Ownwell
Property Tax Bills Across Knott, Martin County, Texas
Median Knott Tax Bill
$300
Median Martin County Tax Bill
$154
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Knott, Martin County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79748 | $79 | $139 | $300 | $502 | $758 |
Source: Ownwell