Elm Mott, Texas Property Taxes
The median property tax rate in Elm Mott, TX is 1.34%, higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $133,990 in Elm Mott, the typical annual property tax bill amounts to $1,603, which is below the national median of $2,690. Property taxes in Elm Mott are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Elm Mott'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 Elm Mott or another part of McLennan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elm Mott, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Elm Mott, Texas Tax Savings
Ownwell’s Elm Mott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elm Mott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elm Mott to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Elm Mott. 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 McLennan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Elm Mott, Texas
Property taxes in Elm Mott, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elm Mott is 1.34%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Elm Mott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elm Mott 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 Elm Mott's effective property tax rate to other counties in Texas and the national median. For comparison, the 76640 zip code has the highest median property tax rate of 1.34%, while the 76640 zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Elm Mott provides valuable insights into the varying tax landscape across McLennan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elm Mott Tax Rate
1.34%
Average Mclennan County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elm Mott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76640 | 0.88% | 1.08% | 1.34% | 1.45% | 1.60% |
Source: Ownwell
$1,148
Average Elm Mott Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Elm Mott, Texas
In Elm Mott, 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 McLennan 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. Assessment notices in Elm Mott 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 Elm Mott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1603 in the 76640 zip code.
Average Elm Mott Assessed Value
$133,990
Average Mclennan County Assessed Value
$228,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elm Mott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76640 | $19,640 | $49,125 | $133,990 | $254,110 | $366,640 |
Source: Ownwell
$1,148
Average Elm Mott Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Elm Mott, Texas
In Elm Mott, McLennan 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 and reflects the market value of the property. Homeowners in Elm Mott can expect varying tax bills depending on their property's assessed value, with the 25th percentile tax bill around $621 and the 75th percentile reaching up to $2,955. The highest median tax bill in the area is $1,603, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property improvements, market conditions, and local government budgets. High property taxes can significantly impact homeowners, making it essential to explore ways to reduce these costs. Ownwell offers expert property tax appeal and exemption services, helping homeowners challenge their assessments and potentially lower their tax bills. By leveraging professional insights and local market knowledge, Ownwell ensures homeowners in Elm Mott pay only their fair share in property taxes.
Average Elm Mott Tax Bill
$1,603
Average Mclennan County Tax Bill
$3,809
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Elm Mott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76640 | $275 | $621 | $1,603 | $2,955 | $4,233 |
Source: Ownwell
$1,148
Average Elm Mott Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Mclennan Appraisal District | |
| Phone | (254) 752-9864 |
| Website | esearch.mclennancad.org |
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