Roscoe, Texas Property Taxes
The median property tax rate in Roscoe, TX is 0.60%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Roscoe at $270,729, the typical annual property tax bill is $1,480, which is also below the national median of $2,690. Property taxes in Roscoe are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Roscoe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Roscoe or another part of Mitchell County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Roscoe, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Roscoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roscoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roscoe 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 Roscoe, Texas
Property taxes in Roscoe, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roscoe is 0.60%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Roscoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roscoe 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 Roscoe's effective property tax rate to other counties in Texas and the national median. For comparison, the 79545 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Roscoe provides valuable insights into the varying tax landscape across Nolan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roscoe Tax Rate
0.60%
Average Mitchell County Tax Rate
1.88%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79545 | 0.48% | 0.53% | 0.60% | 0.68% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Roscoe, Texas
In Roscoe, 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 Mitchell 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 Roscoe, 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 Roscoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 79545 has both the highest and lowest median tax bill at $1480. By understanding these trends, homeowners can take proactive steps to manage their property taxes effectively.
Average Roscoe Assessed Value
$270,729
Average Mitchell County Assessed Value
$57,050
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79545 | $190,641 | $220,674 | $270,729 | $320,784 | $350,817 |
Source: Ownwell
Property Tax Bills Across Roscoe, Texas
In Roscoe, located in Mitchell County, TX, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the tax bill. In Roscoe, the median home price is $270,729, and the property tax rate is used to calculate the tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For instance, homeowners in Roscoe might see tax bills ranging from the 25th percentile at $1,386 to the 75th percentile at $1,574, with the 90th percentile reaching $1,631. Compared to the national median property tax rate of 0.99%, Roscoe's property taxes can be considered moderate. These tax bills directly affect homeowners by contributing to local services and infrastructure, ultimately impacting the overall cost of owning a home in the area.
Average Roscoe Tax Bill
$1,480
Average Mitchell County Tax Bill
$1,077
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Roscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79545 | $1,329 | $1,386 | $1,480 | $1,574 | $1,631 |
Source: Ownwell