Midland, Texas Property Taxes
The median property tax rate in Midland, TX is 1.15%, slightly above the national median of 0.99% but below the Texas state median of 1.67%. With the median home value in Midland at $237,990, the typical annual property tax bill reaches $2,483, which is just under the national median of $2,690. Property taxes in Midland are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Midland'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 Midland 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
Midland, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$2,737
$2,540
Ownwell’s Midland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midland 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 Midland, Texas
Property taxes in Midland, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midland is 1.15%, higher than both the Texas state median of 1.10% and the U.S. national median of 0.99%. Local government entities within Midland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midland 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 Midland's effective property tax rate to other counties in Texas and the national median. For comparison, the 79707 zip code has the highest median property tax rate of 1.19%, while 79703 has the lowest median tax rate of 1.01%. Understanding how these cities compare with Midland provides valuable insights into the varying tax landscape across Midland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Midland Tax Rate
1.15%
Average Midland County Tax Rate
1.15%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79701 | 0.45% | 0.62% | 1.12% | 1.50% | 1.50% |
| 79703 | 0.51% | 0.77% | 1.01% | 1.50% | 1.50% |
| 79705 | 0.56% | 1.01% | 1.17% | 1.50% | 1.50% |
| 79706 | 0.29% | 0.79% | 1.15% | 1.24% | 1.50% |
| 79707 | 0.70% | 1.03% | 1.19% | 1.50% | 1.50% |
| 79712 | 0.11% | 0.58% | 1.15% | 1.15% | 2.52% |
Source: Ownwell
Property Tax Assessment Values Across Midland, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Midland, Texas. The market value represents 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 Midland 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 Midland, 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. The zip code with the highest median tax bill is 79707, with a bill of $3,908, while the lowest is 79712, with a bill of $164. Being aware of these valuation processes in Midland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Midland Assessed Value
$237,990
Average Midland County Assessed Value
$239,530
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Midland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79701 | $46,709 | $85,000 | $149,115 | $231,380 | $330,663 |
| 79703 | $118,800 | $153,320 | $188,890 | $227,540 | $268,360 |
| 79705 | $72,363 | $194,605 | $292,610 | $369,542 | $491,602 |
| 79706 | $12,300 | $40,940 | $141,780 | $328,620 | $472,944 |
| 79707 | $156,590 | $242,868 | $340,230 | $499,122 | $655,735 |
| 79712 | $5,810 | $11,195 | $18,180 | $32,220 | $47,852 |
Source: Ownwell
Property Tax Bills Across Midland, Texas
In Midland, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is then applied to this assessed value to calculate the annual tax bill. Factors that influence the assessed value include the market value of the property, recent sales of similar properties, and any improvements or changes made to the home. For homeowners in Midland, the property tax rate can significantly impact their annual expenses. The median home price in the area is $237,990. Homeowners in the 25th percentile pay around $1,015 annually, while those in the 75th percentile face a bill of approximately $4,138. At the higher end, the 90th percentile sees tax bills reaching up to $5,992. The highest median tax bill in Midland is found in zip code 79707 at $3,908, whereas the lowest is in zip code 79712 at $164. These variations highlight how location and property value can affect the financial obligations of homeowners.
Average Midland Tax Bill
$2,483
Average Midland County Tax Bill
$2,479
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Midland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79701 | $316 | $644 | $1,451 | $2,604 | $3,978 |
| 79703 | $802 | $1,267 | $1,996 | $2,738 | $3,426 |
| 79705 | $550 | $1,730 | $3,309 | $4,595 | $6,091 |
| 79706 | $100 | $340 | $1,126 | $3,587 | $4,934 |
| 79707 | $1,386 | $2,461 | $3,908 | $6,067 | $8,256 |
| 79712 | $25 | $69 | $164 | $355 | $555 |
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 | |
|---|---|
| Midland Appraisal District | |
| Website | iswdataclient.azurewebsites.net |