Richland, Texas Property Taxes
The median property tax rate in Richland, TX is 0.90%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Richland at $105,610, the typical annual property tax bill is $763, significantly below the national median of $2,690. Property taxes in Richland are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Richland'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 Richland 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
Richland, 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 Richland Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richland. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Richland to provide an accurate estimate of your property tax bill. This valuable insight helps you understand your potential tax liabilities. For those interested in more granular data, you can explore neighborhood-specific trends further down the page. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Richland, Texas
Property taxes in Richland, Texas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Richland is 1.15%, which is higher than both the Texas state median of 1.10% and the U.S. national median of 0.99%. Local government entities within Richland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richland 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 Richland's effective property tax rate to other counties in Texas and the national median. For comparison, the 76681 zip code has the highest median property tax rate of 1.15%, while the 76681 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Richland provides valuable insights into the varying tax landscape across Hill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richland Tax Rate
0.90%
Average Navarro County Tax Rate
1.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76681 | 0.20% | 0.44% | 0.90% | 1.26% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Richland, Texas
In Richland, 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 Richland, 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 Richland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 76681, with a median tax bill of $763.
Average Richland Assessed Value
$105,610
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 Richland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76681 | $24,682 | $53,175 | $105,610 | $193,925 | $330,836 |
Source: Ownwell
Property Tax Bills Across Richland, Texas
In Richland, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Navarro County. The assessed value is determined by the county's appraisal district and reflects the market value of the property. Homeowners in Richland can expect a median home price of $105,610, which serves as a basis for calculating their tax bill. The tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, the tax bill at the 25th percentile is $323, while at the 75th percentile, it rises to $1,783. At the 90th percentile, it can go up to $3,128. These variations highlight how different property values and exemptions can significantly impact what homeowners owe. Compared to the national median property tax rate of 0.99%, Richland's rates and resulting tax bills can vary widely, emphasizing the importance of understanding local tax assessments and potential exemptions to manage annual expenses effectively.
Average Richland Tax Bill
$763
Average Navarro County Tax Bill
$1,415
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Richland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76681 | $121 | $323 | $763 | $1,783 | $3,128 |
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 |