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Woodway, Mclennan County, Texas Property Taxes

Median Woodway, TX effective property tax rate: 1.70%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%. Median Woodway, TX home value: $353,640. Median annual Woodway, TX tax bill: $5,944, $3,544 higher than the national median property tax bill of $2,400.

How are property taxes in McLennan County calculated?

Property taxes in Woodway, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Woodway’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Woodway, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Woodway, Mclennan County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.7%

Estimate Property Tax Bill

$6,012

$5,579

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Woodway Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Woodway with just two data points. By entering your property's estimated assessed value, our calculator applies Woodway’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by McLennan County — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in McLennan County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Woodway, Mclennan County, Texas

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Woodway’s effective property tax rate to other cities in Texas and the median property tax rates in Texas and the U.S. Woodway, located in McLennan County, stands out for its property tax rate of 1.70%. This is significantly higher than the national median property tax rate of 1.02%. Texas, known for its higher property tax rates, reflects this trend, and Woodway exemplifies this with its rate. While the national median property tax bill is approximately $2400, Woodway’s rate indicates a different financial landscape for homeowners. Understanding these differences is crucial for property owners in Texas, as it directly impacts their financial planning and property investment decisions.

Property Tax Rates Across Woodway, Mclennan County, Texas

Source: Ownwell

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1.20%

1.73%

2.26%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Woodway Tax Rate

1.70%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Mclennan County Tax Rate

1.79%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Woodway, Mclennan County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
767121.17%1.46%1.70%1.99%2.18%

Source: Ownwell

Property Tax Assessment Values Across Woodway, Mclennan County, Texas

When examining property taxes in Woodway, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The McLennan County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In McLennan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Woodway. For example, the median home price in Woodway is $353,640, with tax bills ranging significantly across the county. 76712 has the highest median home price at $353,640.

Property Tax Assessment Values Across Woodway, Mclennan County, Texas

Source: Ownwell

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$50,580

$215,113

$379,645

Median Woodway Market Value

$353,640

Median Mclennan County Market Value

$228,020

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Woodway, Mclennan County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
76712$218,426$275,600$353,640$468,080$592,502

Source: Ownwell

Property Tax Bills Across Woodway, Mclennan County, Texas

In Woodway, located in McLennan County, TX, property tax bills are determined by applying the local tax rate to the assessed value of a home. The assessed value is typically a percentage of the market value, which is influenced by factors such as location, size, and condition of the property. Woodway homeowners face a median property tax bill of approximately $5,944, notably higher than the national median of $2,400. This can significantly impact household budgets, especially as property values rise. The tax bills in Woodway range from the 25th percentile at $4,320 to the 90th percentile at $10,645, reflecting the diversity in property values and tax obligations within the city.

Ownwell assists homeowners by providing professional property tax appeal services, potentially reducing their tax liabilities. By analyzing property assessments and market conditions, Ownwell identifies opportunities for tax savings and guides homeowners through the appeal process. This service can lead to substantial savings, making homeownership more affordable in Woodway.

Property Tax Bills Across Woodway, Mclennan County, Texas

Source: Ownwell

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$762

$3,353

$5,944

Median Woodway Tax Bill

$5,944

Median Mclennan County Tax Bill

$3,809

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Woodway, Mclennan County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
76712$3,066$4,320$5,944$8,200$10,645

Source: Ownwell

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