Graford, Texas Property Taxes
The median property tax rate in Graford, TX is 1.48%, which is considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Graford at $329,080, the typical annual property tax bill reaches $4,667, significantly exceeding the national median of $2,690. Property taxes in Graford 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 Graford'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 Graford or another part of Palo Pinto County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graford, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$4,870
$4,520
Ownwell’s Graford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graford 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 Graford, Texas
Property taxes in Graford, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graford is 1.48%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Graford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graford 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 Graford's effective property tax rate to other counties in Texas and the national median. For comparison, the 76449 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Graford provides valuable insights into the varying tax landscape across Palo Pinto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graford Tax Rate
1.48%
Average Palo Pinto County Tax Rate
1.57%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76449 | 1.19% | 1.36% | 1.48% | 1.48% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Graford, Texas
In Graford, 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 Palo Pinto 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 Graford, 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 Graford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76449 has both the highest and lowest median tax bill at $4,667, highlighting the variability in tax responsibilities within the area.
Average Graford Assessed Value
$329,080
Average Palo Pinto County Assessed Value
$144,560
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76449 | $36,603 | $86,918 | $329,080 | $768,048 | $1,400,217 |
Source: Ownwell
Property Tax Bills Across Graford, Texas
In Graford, located in Palo Pinto County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For instance, the median home price in Graford is $329,080. The property tax rate in Palo Pinto County is used to calculate the annual tax bill, which can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $1,266, while those in the 75th percentile might see a bill as high as $11,073. At the 90th percentile, tax bills can soar to $20,412. This variability in tax bills can significantly impact homeowners, influencing their financial planning and the affordability of owning property in the area. Compared to the national median property tax rate of 0.99%, Graford's property tax bills show a wide range, reflecting the diverse property values within the region.
Average Graford Tax Bill
$4,667
Average Palo Pinto County Tax Bill
$2,369
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Graford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76449 | $543 | $1,266 | $4,667 | $11,073 | $20,412 |
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 | |
|---|---|
| Palo Pinto Appraisal District | |
| Website | iswdataclient.azurewebsites.net |