Loraine, Mitchell County, Texas Property Taxes

Name: Property Tax Bills Across Loraine, Mitchell County, Texas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Loraine, TX effective property tax rate: 1.85%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Loraine, TX home value: $55,050
Median annual Loraine, TX tax bill: $917, $1,483 lower than the national median property tax bill of $2,400.

How are property taxes in Mitchell County calculated?

Property taxes in Loraine, 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 Loraine’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Loraine, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Loraine, Mitchell County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.85%

Estimate Property Tax Bill

$1,018

$945

Ownwell’s Loraine Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Loraine with just two data points. By entering your property's estimated assessed value, our calculator applies Loraine’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a 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 Mitchell County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Loraine, Mitchell County, Texas

Local government entities set tax rates, and these can vary significantly within a state. This variation is due to each county estimating its required budget to provide essential services, which is then divided by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the fundamental process followed annually.

In Loraine, located in Mitchell County, Texas, the effective property tax rate is a crucial factor for homeowners to consider. With a median property tax rate of 1.85%, Loraine stands out when compared to other cities in Texas. This rate is significantly higher than the national median property tax rate of 1.02%, which results in a greater annual financial obligation for property owners in Loraine. Understanding these differences is essential for property owners who are evaluating their potential tax liabilities and seeking ways to manage them effectively. By staying informed, homeowners can make better decisions regarding property tax appeals and exemptions, ultimately ensuring they are not overburdened by their property tax bills.

Property Tax Rates Across Loraine, Mitchell County, Texas

Source: Ownwell

1.63%

1.76%

1.90%

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 Loraine Tax Rate

1.85%

Median Effective Mitchell County Tax Rate

1.88%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Loraine, Mitchell County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
79532	0.66%	1.13%	1.85%	2.90%	3.06%

Source: Ownwell

Property Tax Assessment Values Across Loraine, Mitchell County, Texas

When examining property taxes in Loraine, 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 Mitchell 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.

In Mitchell County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Loraine. For example, the median home price in Loraine is $55,050, with tax bills ranging significantly across the county. Zip code 79532 has the highest median home price at $55,050.

Property Tax Assessment Values Across Loraine, Mitchell County, Texas

Source: Ownwell

$52,345

$54,854

$57,363

Median Loraine Market Value

$55,050

Median Mitchell County Market Value

$57,050

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Loraine, Mitchell County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
79532	$9,257	$26,423	$55,050	$111,758	$252,531

Source: Ownwell

Property Tax Bills Across Loraine, Mitchell County, Texas

In Loraine, located in Mitchell County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in the area is $55,050. Property tax rates in this region are influenced by various factors, including local government budgets and public service needs. Homeowners in Loraine typically see property tax bills ranging from $437 at the 25th percentile to $3,054 at the 90th percentile. The median property tax bill stands at $917, which is significantly below the national median of $2,400. This lower tax bill can be attributed to the relatively modest property values in the area. However, even within this range, there is potential for homeowners to overpay due to errors in assessment or overlooked exemptions. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners navigate the complexities of property tax assessments and potentially reduce their tax liabilities, ensuring they pay only their fair share.

Property Tax Bills Across Loraine, Mitchell County, Texas

Source: Ownwell

$632

$873

$1,114

Median Loraine Tax Bill

$917

Median Mitchell County Tax Bill

$1,077

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Loraine, Mitchell County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
79532	$181	$437	$917	$1,723	$3,054

Source: Ownwell