Mingus, Texas Property Taxes
The median property tax rate in Mingus, TX is 1.79%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $64,230 in Mingus, the typical annual property tax bill amounts to $971, which is substantially lower than the national median of $2,690. Property taxes in Mingus are determined based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Mingus's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're residing in the heart of Mingus or another part of Palo Pinto County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mingus, 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 Mingus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mingus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mingus 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 Mingus, Texas
Property taxes in Mingus, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mingus is 1.79%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Mingus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mingus 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 Mingus's effective property tax rate to other counties in Texas and the national median. For comparison, the 76463 zip code has the highest median property tax rate of 1.79%, while the 76463 zip code has the lowest median tax rate of 1.79%. Understanding how these cities compare with Mingus 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 Mingus Tax Rate
1.79%
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 Mingus, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76463 | 1.15% | 1.39% | 1.79% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Mingus, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mingus, Texas. 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. Assessment notices in Mingus 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 Mingus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mingus, the median home price stands at $64,230. The tax bills vary significantly, with the 25th percentile at $504 and the 75th percentile at $1,757. The highest and lowest median tax bill in the area is $971, both found in the 76463 zip code.
Average Mingus Assessed Value
$64,230
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 Mingus, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76463 | $15,022 | $35,330 | $64,230 | $115,930 | $182,808 |
Source: Ownwell
Property Tax Bills Across Mingus, Texas
In Mingus, Palo Pinto 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. In this area, the median home price is $64,230, and the median property tax bill is $971.00. Several factors influence the property tax bill, including the property's market value, any applicable exemptions, and the local tax rate. For instance, homeowners might qualify for exemptions that can reduce the taxable value of their property, thereby lowering their tax bill. The impact on homeowners can vary significantly. For example, those in the 25th percentile pay around $504 annually, while those in the 75th percentile face bills of approximately $1,757. At the higher end, the 90th percentile sees tax bills nearing $2,940. These variations highlight the importance of understanding local tax assessments and potential exemptions to manage property tax expenses effectively.
Average Mingus Tax Bill
$971
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 Mingus, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76463 | $256 | $504 | $971 | $1,757 | $2,940 |
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 |