Forestburg, Texas Property Taxes
The median property tax rate in Forestburg, TX is 1.22%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $262,220 in Forestburg, the typical annual property tax bill amounts to $2,071, which is below the national median of $2,690. Property taxes in Forestburg are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Forestburg'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 Forestburg or another part of Montague County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forestburg, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$3,199
$2,969
Ownwell’s Forestburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forestburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forestburg 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 Forestburg, Texas
Property taxes in Forestburg, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forestburg is 1.22%, higher than both the Texas state median of 1.6% and the U.S. national median of 0.99%. Local government entities within Forestburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forestburg 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 Forestburg's effective property tax rate to other counties in Texas and the national median. For comparison, the 76239 zip code has the highest median property tax rate of 1.22%, while the 76239 zip code has the lowest median tax rate of 1.22%. Understanding how these cities compare with Forestburg provides valuable insights into the varying tax landscape across Montague County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forestburg Tax Rate
1.22%
Average Montague County Tax Rate
1.38%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forestburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76239 | 0.28% | 0.96% | 1.22% | 1.24% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Forestburg, Texas
In Forestburg, 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 Montague 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 Forestburg, 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 Forestburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Forestburg is $262,220, with the highest median tax bill being $2,071 in zip code 76239.
Average Forestburg Assessed Value
$262,220
Average Montague County Assessed Value
$136,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forestburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76239 | $40,110 | $93,485 | $262,220 | $616,400 | $1,091,690 |
Source: Ownwell
Property Tax Bills Across Forestburg, Texas
In Forestburg, located in Montague County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price here is $262,220, and the property tax rate in this region influences the final tax bill. Homeowners in Forestburg can expect their property tax bills to vary significantly. For instance, those within the 25th percentile might see bills around $876, while those in the 75th percentile could face bills up to $4,896. The highest property tax bills, reaching the 90th percentile, can be as steep as $10,179. Factors such as the property's assessed value, local tax rates, and any applicable exemptions are considered when determining the tax bill. Comparatively, the national median property tax rate is 0.99%. Understanding these elements can help homeowners in Forestburg better anticipate their property tax obligations and plan their finances accordingly.
Average Forestburg Tax Bill
$2,071
Average Montague County Tax Bill
$1,909
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Forestburg, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76239 | $367 | $876 | $2,071 | $4,896 | $10,179 |
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 | |
|---|---|
| Montague Appraisal District | |
| Website | iswdataclient.azurewebsites.net |