Palo Pinto, Texas Property Taxes
The median property tax rate in Palo Pinto, TX is 1.36%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Palo Pinto at $152,750, the typical annual property tax bill is $1,854, falling below the national median of $2,690. Property taxes in Palo Pinto are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Palo Pinto'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 Palo Pinto or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palo Pinto, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$2,077
$1,928
Ownwell’s Palo Pinto Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palo Pinto with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palo Pinto 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 Palo Pinto, Texas
Property taxes in Palo Pinto, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palo Pinto is 1.36%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Palo Pinto set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palo Pinto 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 Palo Pinto's effective property tax rate to other counties in Texas and the national median. For comparison, the 76484 zip code has the highest median property tax rate of 1.36%, while the 76484 zip code has the lowest median tax rate of 1.36%. Understanding how these cities compare with Palo Pinto 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 Palo Pinto Tax Rate
1.36%
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 Palo Pinto, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76484 | 0.88% | 1.07% | 1.36% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Palo Pinto, Texas
In Palo Pinto, 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 Palo Pinto, 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. The median home price in Palo Pinto is $152,750, with tax bills varying significantly across the area. For instance, the highest median tax bill is $1,854 in zip code 76484, while the lowest median tax bill is also $1,854 in the same zip code. By understanding 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 Palo Pinto helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Palo Pinto Assessed Value
$152,750
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 Palo Pinto, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76484 | $22,002 | $69,538 | $152,750 | $298,965 | $439,296 |
Source: Ownwell
Property Tax Bills Across Palo Pinto, Texas
Property tax bills in Palo Pinto, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of homes in the area. For instance, the median home price in Palo Pinto is $152,750. The local tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Palo Pinto experience a range of property tax bills, with the 25th percentile at $786 and the 75th percentile reaching $3,844. The 90th percentile can go as high as $5,537, indicating significant variability depending on property value and location within the county. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting community quality of life. Compared to the national median property tax rate of 0.99%, Palo Pinto's rates reflect the unique economic and demographic factors influencing the area. Homeowners must budget for these taxes as part of their overall housing costs, ensuring they can meet their financial obligations.
Average Palo Pinto Tax Bill
$1,854
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 Palo Pinto, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76484 | $290 | $786 | $1,854 | $3,844 | $5,537 |
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 |