Pontotoc, Texas Property Taxes
The median property tax rate in Pontotoc, TX is 1.40%, which is considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Pontotoc at $157,337, the typical annual property tax bill reaches $1,894, still below the national median of $2,690. Property taxes in Pontotoc 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 Pontotoc'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 Pontotoc or another part of Mason County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pontotoc, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,203
$2,044
Ownwell’s Pontotoc Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pontotoc with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pontotoc 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 Pontotoc, Texas
Property taxes in Pontotoc, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pontotoc is 1.40%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Pontotoc set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pontotoc 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 Pontotoc's effective property tax rate to other counties in Texas and the national median. For comparison, the 76869 zip code has the highest median property tax rate of 1.40%, while the 76869 zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Pontotoc 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 Pontotoc Tax Rate
1.40%
Average Mason County Tax Rate
1.43%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pontotoc, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76869 | 0.41% | 0.84% | 1.40% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Pontotoc, Texas
In Pontotoc, 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 Pontotoc, 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 Pontotoc is $157,337, with tax bills ranging from $956 at the 25th percentile to $2,976 at the 75th percentile, and even reaching $4,189 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pontotoc Assessed Value
$157,337
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 Pontotoc, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76869 | $39,072 | $102,507 | $157,337 | $236,071 | $574,901 |
Source: Ownwell
Property Tax Bills Across Pontotoc, Texas
In Pontotoc, Mason County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the property's market value. Once the market value is established, the tax rate set by local taxing authorities is applied to calculate the tax bill. For instance, with a median home price of $157,337, homeowners can expect varying tax bills depending on the assessed value and applicable exemptions. Factors such as property location, improvements, and exemptions play significant roles in determining the final tax bill. In Pontotoc, tax bills can range significantly, with the 25th percentile at approximately $956 and the 75th percentile reaching around $2,976. For those in the 90th percentile, tax bills can go up to $4,189. These taxes contribute to local services like schools, roads, and emergency services, directly impacting homeowners by funding essential community resources. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners to understand their local rates and assessments.
Average Pontotoc Tax Bill
$1,894
Average Mason County Tax Bill
$2,755
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Pontotoc, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76869 | $514 | $956 | $1,894 | $2,976 | $4,189 |
Source: Ownwell