Palacios, Texas Property Taxes
The median property tax rate in Palacios, TX is 1.50%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Palacios, the typical annual property tax bill reaches $1,448, falling short of the national median of $2,690. Property taxes in Palacios are calculated based on the tax assessed value, which often falls below market value due to various exemptions like primary residence and agricultural exemptions. Understanding Palacios'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 Palacios 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
Palacios, 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 Palacios Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palacios with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palacios 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 Palacios, Texas
Property taxes in Palacios, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palacios is 1.50%, higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Palacios set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palacios 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 Palacios's effective property tax rate to other counties in Texas and the national median. For comparison, the 77465 zip code has the highest median property tax rate of 1.50%, while the 77465 zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Palacios provides valuable insights into the varying tax landscape across Matagorda County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palacios Tax Rate
1.50%
Average Matagorda County Tax Rate
1.53%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palacios, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77465 | 0.52% | 0.89% | 1.50% | 2.46% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across Palacios, Texas
In Palacios, 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 Matagorda 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 Palacios, 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 Palacios helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 77465 has the highest and lowest median tax bill, both at $1448, reflecting the specific dynamics of this area.
Average Palacios Assessed Value
$104,570
Average Matagorda County Assessed Value
$130,525
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palacios, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77465 | $12,440 | $44,970 | $104,570 | $201,120 | $332,386 |
Source: Ownwell
Property Tax Bills Across Palacios, Texas
In Palacios, located in Matagorda County, TX, property tax bills are calculated based on the assessed value of a home. The local tax authorities determine this value, which is then multiplied by the applicable tax rate to produce the tax bill. For homeowners in Palacios, the median home price stands at $104,570. The tax bill varies significantly depending on the assessed value of the property. For instance, the 25th percentile of tax bills is around $526, while those in the 75th percentile can expect to pay approximately $2,816. At the higher end, the 90th percentile tax bill reaches $4,374. These figures indicate that property taxes can have a substantial impact on household budgets, especially for those with higher-valued properties. With a median tax bill of $1,448 in the 77465 zip code, Palacios homeowners face property tax rates that are notably competitive compared to the national median property tax rate of 0.99%. This can make Palacios an attractive option for potential homeowners looking for manageable property tax obligations.
Average Palacios Tax Bill
$1,448
Average Matagorda County Tax Bill
$1,664
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Palacios, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77465 | $172 | $526 | $1,448 | $2,816 | $4,374 |
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 | |
|---|---|
| Matagorda Appraisal District | |
| Website | propaccess.trueautomation.com |