Streetman, Texas Property Taxes
The median property tax rate in Streetman, TX is 0.42%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Streetman, the typical annual property tax bill reaches $1,662, well below the national median of $2,690. Property taxes in Streetman are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Streetman'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 Streetman or another part of Navarro County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Streetman, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,889
$1,753
Ownwell’s Streetman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Streetman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Streetman 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 Streetman, Texas
Property taxes in Streetman, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Streetman is 0.42%, significantly lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Streetman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Streetman 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 Streetman's effective property tax rate to other counties in Texas and the national median. For comparison, the 75859 zip code has the highest median property tax rate of 0.42%, while the 75859 zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Streetman 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 Streetman Tax Rate
0.42%
Average Navarro County Tax Rate
1.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Streetman, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75859 | 0.19% | 0.33% | 0.42% | 0.55% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Streetman, Texas
In Streetman, 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 Streetman, 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 instance, the median home price in Streetman is $449,730, with tax bills ranging from $650 at the 25th percentile to $4,810 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,662, found in the 75859 zip code. 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 Streetman Assessed Value
$449,730
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 Streetman, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75859 | $75,486 | $181,190 | $449,730 | $754,090 | $1,111,516 |
Source: Ownwell
Property Tax Bills Across Streetman, Texas
In Streetman, Navarro County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, improvements made to the property, and comparable sales in the area. For homeowners in Streetman, the tax burden can vary significantly. The 25th percentile of tax bills is around $650, while the 75th percentile reaches $3,140, and the 90th percentile can be as high as $4,810. The median tax bill in Streetman is notably lower than the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual expenses. Being aware of how assessments are made and how tax rates are applied can help homeowners anticipate and manage their financial obligations effectively.
Average Streetman Tax Bill
$1,662
Average Navarro County Tax Bill
$1,415
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Streetman, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75859 | $274 | $650 | $1,662 | $3,140 | $4,810 |
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 |