Hockley, Texas Property Taxes
The median property tax rate in Hockley, TX is 1.38%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value in Hockley of $214,830, the typical annual property tax bill amounts to $2,647, just below the national median of $2,690. Property taxes in Hockley are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Hockley'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 Hockley 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
Hockley, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$2,965
$2,751
$1,148
Average Tax Savings
Ownwell’s Hockley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hockley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hockley to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Hockley. 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 Hockley, Texas
Property taxes in Hockley, Texas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Hockley is 1.38%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Hockley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hockley 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 Hockley's effective property tax rate to other counties in Texas and the national median. For comparison, the 77447 zip code has both the highest and lowest median property tax rate of 1.38%. Understanding how these areas compare with Hockley provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hockley Tax Rate
1.38%
Average Montgomery County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hockley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77447 | 0.55% | 1.08% | 1.38% | 1.64% | 1.84% |
Source: Ownwell
$1,148
Average Hockley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hockley, Texas
In Hockley, 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 Montgomery 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 Hockley, 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. For example, the median home price in Hockley is $214,830, with the 25th percentile tax bill at $1,162 and the 75th percentile tax bill at $4,932. 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 Hockley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hockley Assessed Value
$214,830
Average Montgomery County Assessed Value
$278,300
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hockley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77447 | $52,072 | $99,485 | $214,830 | $363,030 | $502,063 |
Source: Ownwell
$1,148
Average Hockley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hockley, Texas
In Hockley, Montgomery County, TX, property tax bills are calculated based on the assessed value of the home. The median home price in this area is $214,830, with property taxes determined by the local tax rate applied to this assessed value. The national median property tax rate is 0.99%, but local rates can vary. Factors such as property location, improvements, and market conditions influence the assessed value. Homeowners in Hockley can see tax bills ranging from $1,162 at the 25th percentile to $6,976 at the 90th percentile. High property tax bills can be a significant burden for homeowners. Ownwell helps by providing professional property tax appeal and exemption services. Our team reviews your property's assessed value, identifies discrepancies, and files appeals on your behalf. By ensuring a fair assessment, we help reduce your tax bill, potentially saving you hundreds or even thousands of dollars annually. Let Ownwell's expertise ease your property tax burden and maximize your savings.
Average Hockley Tax Bill
$2,647
Average Montgomery County Tax Bill
$4,550
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Hockley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77447 | $519 | $1,162 | $2,647 | $4,932 | $6,976 |
Source: Ownwell
$1,148
Average Hockley Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Montgomery Appraisal District | |
| Website | mcad-tx.org |
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