Oldham County, Texas Property Taxes
The median property tax rate in Oldham County is 2.47%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $69,505 in Oldham County, the typical annual property tax bill is $1,461, which is below the national median of $2,690. Property taxes in Oldham County are calculated based on the assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Oldham County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Vega or another part of Oldham County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oldham County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$1,717
$1,593
Ownwell’s Oldham County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Oldham County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Oldham County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Oldham County, Texas
Property taxes in Oldham County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Oldham County is 2.47%, which is higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Oldham County set these rates annually, and they can vary significantly between different areas within the county. Each year, Oldham County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Oldham County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Wildorado has one of the higher property tax rates in Texas at 1.86%, while the city of Adrian boasts one of the lowest at 1.49%. Analyzing how Oldham County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Oldham County Tax Rate
2.47%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Oldham County, Texas
In Oldham County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Oldham County Appraisal District. The assessed value, however, 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. Assessment notices in Oldham County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Adrian has the highest median tax bill at $1,373, while Wildorado has the lowest at $944. Being aware of these valuation processes in Oldham County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Oldham County Assessed Value
$69,505
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Bills Across Oldham County, Texas
Property tax bills in Oldham County, TX, are calculated based on the assessed value of a property. The assessed value is determined by the local appraisal district, which evaluates the property's market value. This assessed value is then multiplied by the county's tax rate to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax amount. For homeowners in Oldham County, property tax bills can vary significantly. The 25th percentile tax bill is around $577, while the 75th percentile reaches $3,095, and the 90th percentile can be as high as $5,152. These variations highlight the impact of property characteristics and market conditions on tax obligations. Comparatively, the national median property tax rate is 0.99%, indicating that Oldham County's tax rates and property values can lead to diverse tax bills. Notably, the highest median tax bill in the county is $1,373 in Adrian, while Wildorado has the lowest at $944.
Average Oldham County Tax Bill
$1,461
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690