Powell, Texas Property Taxes
The median property tax rate in Powell, TX is 0.97%, slightly lower than the national median of 0.99% and significantly below the Texas state median of 1.67%. With the median home value in Powell at $156,490, the typical annual property tax bill is around $1,185, well under the national median of $2,690. Property taxes in Powell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Powell'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 Powell 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
Powell, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,518
$1,409
Ownwell’s Powell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powell 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 Powell, Texas
Property taxes in Powell, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Powell is 0.97%, slightly lower than the Texas state median of 1.80% but still comparable to the U.S. national median of 0.99%. Local government entities within Powell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powell 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 Powell's effective property tax rate to other counties in Texas and the national median. For comparison, the 75153 zip code has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with Powell provides valuable insights into the varying tax landscape across Navarro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powell Tax Rate
0.97%
Average Navarro County Tax Rate
1.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75153 | 0.22% | 0.48% | 0.97% | 1.25% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Powell, Texas
In Powell, 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 Navarro 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 Powell, 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. The median home price in Powell is $156,490, with tax bills ranging significantly. For instance, homeowners in the 25th percentile pay around $466, while those in the 75th percentile pay about $2,310. The highest and lowest median tax bills, both at $1,185, are found in zip code 75153. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Powell Assessed Value
$156,490
Average Navarro County Assessed Value
$152,655
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Powell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75153 | $33,864 | $102,572 | $156,490 | $263,940 | $367,576 |
Source: Ownwell
Property Tax Bills Across Powell, Texas
In Powell, located in Navarro County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $156,490, homeowners in Powell can expect their property tax bills to vary significantly. The tax bill at the 25th percentile is around $466, while at the 75th percentile, it rises to approximately $2,310. For those at the 90th percentile, the tax bill can reach up to $3,606. Factors influencing the tax bill include property size, location, and any applicable exemptions. These taxes fund essential local services such as schools, emergency services, and infrastructure. Homeowners in Powell should be mindful of these costs as they can significantly impact their annual budget. Comparing this to the national median property tax rate of 0.99%, Powell's tax rates can be seen as relatively moderate, yet they still represent a considerable financial obligation for residents.
Average Powell Tax Bill
$1,185
Average Navarro County Tax Bill
$1,415
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Powell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75153 | $154 | $466 | $1,185 | $2,310 | $3,606 |
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 | |
|---|---|
| Navarro Appraisal District | |
| Website | esearch.navarrocad.com |