Art, Texas Property Taxes
The median property tax rate in ART, TX is 0.84%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in ART at $280,350, the typical annual property tax bill amounts to $1,774, well below the national median of $2,690. Property taxes in ART 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 ART'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 ART 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
Art, 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 ART Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ART with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ART 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 Art, Texas
Property taxes in ART, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in ART is 0.84%, lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within ART set these rates annually, and they can vary significantly across different neighborhoods. Each year, ART 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 ART's effective property tax rate to other counties in Texas and the national median. For comparison, the 76820 zip code has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with ART provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Art Tax Rate
0.84%
Average Mason County Tax Rate
1.43%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Art, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76820 | 0.10% | 0.30% | 0.84% | 1.63% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Art, Texas
In ART, 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 Mason 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 ART, 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 ART helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 76820, with a median tax bill of $1,774.
Average Art Assessed Value
$280,350
Average Mason County Assessed Value
$221,377
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Art, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76820 | $95,385 | $127,030 | $280,350 | $320,899 | $1,436,191 |
Source: Ownwell
Property Tax Bills Across Art, Texas
In ART, property tax bills are calculated based on the assessed value of a home, which is determined by the Mason County Appraisal District. The assessed value is a percentage of the market value of the property. Property tax rates are then applied to this assessed value to determine the tax bill. Factors such as the local tax rate, property exemptions, and the assessed value of similar properties in the area are considered. For homeowners in ART, the property tax bill can vary significantly. The tax bill at the 25th percentile is $496, while at the 75th percentile, it reaches $3,649. The 90th percentile tax bill is even higher, at $4,331. These variations highlight the impact of property values and local tax rates on homeowners' finances. Compared to the national median property tax rate of 0.99%, the property tax bills in ART reflect the specific economic and property market conditions of Mason County. Understanding these factors can help homeowners better anticipate their annual tax obligations.
Average Art Tax Bill
$1,774
Average Mason County Tax Bill
$2,755
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Art, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76820 | $409 | $496 | $1,774 | $3,649 | $4,331 |
Source: Ownwell