Mart, Texas Property Taxes
The median property tax rate in Mart, TX is 1.94%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Mart, the typical annual property tax bill reaches $1,812, exceeding the national median of $2,690. Property taxes in Mart 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 Mart'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 Mart 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
Mart, 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 Mart, Texas Tax Savings
Ownwell’s MART Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MART with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MART 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 MART. 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 Mart, Texas
Property taxes in Mart, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mart is 1.94%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Mart set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mart 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 Mart's effective property tax rate to other counties in Texas and the national median. For comparison, the 76664 zip code has the highest median property tax rate of 1.94%, while the same zip code also has the lowest median tax rate of 1.94%. Understanding how these cities compare with Mart 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 Mart Tax Rate
1.94%
Average Mclennan County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | 1.15% | 1.44% | 1.94% | 2.32% | 2.51% |
Source: Ownwell
$1,148
Average Mart Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Mart, Texas
In MART, 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. In MART, 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 MART 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 76664, with a median tax bill of $1812.00, while the lowest median tax bill is also in zip code 76664, with the same median tax bill of $1812.00.
Average Mart Assessed Value
$99,400
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 Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | $19,320 | $45,000 | $99,400 | $177,790 | $271,580 |
Source: Ownwell
$1,148
Average Mart Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Mart, Texas
In MART, property tax bills are calculated based on the assessed value of your home, which is determined by the McLennan County appraisal district. The assessed value is then multiplied by the local tax rate to determine your tax bill. Factors such as property location, market conditions, and home improvements can influence the assessed value. For instance, with a median home price of $99,400, homeowners in MART can expect tax bills ranging from $817 at the 25th percentile to $4,457 at the 90th percentile. High property taxes can be a financial burden for homeowners. This is where Ownwell can help. By providing professional property tax appeal services, Ownwell ensures that your home is fairly assessed, potentially lowering your tax bill. Our experts analyze your property’s assessed value and gather evidence to support a reduction, helping you save significantly. With the national median property tax rate at 0.99%, ensuring a fair assessment in MART can lead to substantial savings for homeowners.
Average Mart Tax Bill
$1,812
Average Mclennan County Tax Bill
$3,809
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mart, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76664 | $368 | $817 | $1,812 | $2,931 | $4,457 |
Source: Ownwell
$1,148
Average Mart 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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