Nocona, Texas Property Taxes
The median property tax rate in Nocona, TX is 1.42%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $113,130 in Nocona, the typical annual property tax bill amounts to $1,629, which is below the national median of $2,690. Property taxes in Nocona are determined based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Navigating Nocona's property tax system, leveraging available exemptions, and pinpointing opportunities for reductions can result in substantial annual savings. Whether you're residing in Nocona or investing in real estate within Montague County, a thorough understanding of the local property tax system is invaluable.
Last Updated June 14, 2024
Nocona, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,606
$1,491
Ownwell’s Nocona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nocona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nocona 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 Nocona, Texas
Property taxes in Nocona, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nocona is 1.42%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Nocona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nocona 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 Nocona's effective property tax rate to other counties in Texas and the national median. For comparison, the 76255 zip code has both the highest and lowest median property tax rate of 1.42%. Understanding how these cities compare with Nocona 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 Nocona Tax Rate
1.42%
Average Montague County Tax Rate
1.38%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nocona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76255 | 1.03% | 1.37% | 1.42% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Nocona, Texas
In Nocona, 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 Nocona, 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 Nocona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Nocona is $1,629 in the 76255 zip code, while the lowest median tax bill is also $1,629 in the same zip code.
Average Nocona Assessed Value
$113,130
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 Nocona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76255 | $17,154 | $51,260 | $113,130 | $232,360 | $466,938 |
Source: Ownwell
Property Tax Bills Across Nocona, Texas
In Nocona, located in Montague County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of your property. This value is then multiplied by the local tax rate to determine your annual tax bill. For instance, with a median home price of $113,130, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, thereby affecting the tax bill. Homeowners in Nocona experience a range of tax bills, with the 25th percentile at $752 and the 90th percentile reaching $5,426. Compared to the national median property tax rate of 0.99%, these figures illustrate the variability and potential financial impact on homeowners. Understanding these factors can help residents anticipate and manage their property tax obligations more effectively.
Average Nocona Tax Bill
$1,629
Average Montague County Tax Bill
$1,909
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Nocona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76255 | $247 | $752 | $1,629 | $2,979 | $5,426 |
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 |