Brady, Texas Property Taxes
The median property tax rate in Brady, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $76,310 in Brady, the typical annual property tax bill reaches $1,359, which is still below the national median of $2,690. Property taxes in Brady are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brady'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 Brady or another part of McCulloch County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brady, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$1,412
$1,306
Ownwell’s Brady Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brady with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brady 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 Brady, Texas
Property taxes in Brady, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brady is 1.85%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Brady set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brady 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 Brady's effective property tax rate to other counties in Texas and the national median. For comparison, the 76825 zip code has the highest median property tax rate of 1.85%, while the 76825 zip code also has the lowest median tax rate of 1.85%. Understanding how these cities compare with Brady provides valuable insights into the varying tax landscape across McCulloch County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brady Tax Rate
1.85%
Average Mcculloch County Tax Rate
1.81%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76825 | 1.37% | 1.61% | 1.85% | 2.19% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Brady, Texas
In Brady, 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 McCulloch 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 Brady, 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. For instance, the highest median tax bill in Brady is $1,359 in zip code 76825, while the lowest median tax bill is also $1,359 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brady Assessed Value
$76,310
Average Mcculloch County Assessed Value
$74,310
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76825 | $14,700 | $33,190 | $76,310 | $136,010 | $224,390 |
Source: Ownwell
Property Tax Bills Across Brady, Texas
In Brady, located in McCulloch County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Brady is $76,310, and property tax bills can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $594, while those in the 75th percentile might see bills as high as $2,407. For the top 10% of homeowners, tax bills can reach up to $3,869. Several factors influence these tax bills, including the home's assessed value, which is determined by the local appraisal district, and the tax rate set by various taxing entities such as school districts, cities, and counties. This means that even within the same zip code, like 76825, tax bills can vary widely depending on the specific assessed value of the property and applicable exemptions. Compared to the national median property tax rate of 0.99%, Brady’s property taxes can be considered moderate, impacting homeowners differently based on their property's assessed value and eligibility for exemptions.
Average Brady Tax Bill
$1,359
Average Mcculloch County Tax Bill
$1,255
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Brady, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76825 | $281 | $594 | $1,359 | $2,407 | $3,869 |
Source: Ownwell