Wildorado, Texas Property Taxes
The median property tax rate in Wildorado, TX is 1.86%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wildorado at $57,400, the typical annual property tax bill reaches $944, which is lower than the national median of $2,690. Property taxes in Wildorado 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 Wildorado'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 Wildorado or another part of Oldham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wildorado, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$1,068
$991
Ownwell’s Wildorado Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wildorado with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wildorado 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 Wildorado, Texas
Property taxes in Wildorado, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wildorado is 1.86%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wildorado set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wildorado 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 Wildorado's effective property tax rate to other counties in Texas and the national median. For comparison, the 79098 zip code has the highest median property tax rate of 1.86%, while the same zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with Wildorado provides valuable insights into the varying tax landscape across Oldham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wildorado Tax Rate
1.86%
Average Oldham County Tax Rate
2.47%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wildorado, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79098 | 1.66% | 1.86% | 1.86% | 1.86% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Wildorado, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wildorado, Texas. The market value represents 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 Oldham 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 Wildorado, 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. The median home price in Wildorado is $57,400, with a 25th percentile tax bill of $275 and a 75th percentile tax bill of $2,000. The highest and lowest median tax bills are both $944 in the 79098 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wildorado Assessed Value
$57,400
Average Oldham County Assessed Value
$69,505
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wildorado, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79098 | $3,454 | $14,790 | $57,400 | $103,820 | $196,044 |
Source: Ownwell
Property Tax Bills Across Wildorado, Texas
In Wildorado, located in Oldham County, TX, property tax bills are calculated based on the assessed value of a home. The county assesses the market value of properties, and this assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners in Wildorado, the median home price is $57,400. The tax bills can vary significantly, with the 25th percentile at $275 and the 75th percentile reaching $2,000. The 90th percentile tax bill can go up to $3,361. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, thus affecting the tax bill. These property taxes are crucial for funding essential local services like schools, public safety, and infrastructure. Homeowners need to understand how their tax bills are calculated to budget accordingly and consider potential exemptions or appeals if they believe their assessed value is too high. This ensures they are not overpaying compared to the national median property tax rate of 0.99%.
Average Wildorado Tax Bill
$944
Average Oldham County Tax Bill
$1,461
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wildorado, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79098 | $64 | $275 | $944 | $2,000 | $3,361 |
Source: Ownwell