Henderson, Texas Property Taxes
The median property tax rate in Henderson, TX is 1.50%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $64,280 in Henderson, the typical annual property tax bill amounts to $964, which is below the national median of $2,690. Property taxes in Henderson are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Henderson'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 Henderson or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Henderson, 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 HENDERSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HENDERSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HENDERSON 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 Henderson, Texas
Property taxes in Henderson, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Henderson is 1.50%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Henderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henderson 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 Henderson's effective property tax rate to other counties in Texas and the national median. For comparison, the 75652 zip code has the highest median property tax rate of 1.50%, while the 75652 zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Henderson provides valuable insights into the varying tax landscape across Panola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henderson Tax Rate
1.50%
Average Panola County Tax Rate
1.51%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henderson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75652 | 1.42% | 1.48% | 1.50% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Texas
In Henderson, 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 Panola 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 Henderson, 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 Henderson stands at $64,280, with tax bills ranging from $394 at the 25th percentile to $4,326 at the 90th percentile. The zip code 75652 has the highest median tax bill at $964. Being aware of these valuation processes in Henderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henderson Assessed Value
$64,280
Average Panola County Assessed Value
$71,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henderson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75652 | $19,512 | $26,290 | $64,280 | $119,440 | $291,122 |
Source: Ownwell
Property Tax Bills Across Henderson, Texas
In Henderson, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $64,280, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $394, while at the 75th percentile, it rises to $1,791. The 90th percentile sees tax bills reaching up to $4,326. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. With the national median property tax rate at 0.99%, homeowners in Henderson experience rates that can significantly affect their annual expenses. Understanding these factors helps homeowners plan their finances and anticipate the costs associated with property ownership in Henderson, TX.
Average Henderson Tax Bill
$964
Average Panola County Tax Bill
$1,139
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Henderson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75652 | $283 | $394 | $964 | $1,791 | $4,326 |
Source: Ownwell