Peaster, Texas Property Taxes
The median property tax rate in Peaster, TX is 1.71%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Peaster at $261,765, the typical annual property tax bill reaches $4,470, exceeding the national median of $2,690. Property taxes in Peaster 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 Peaster'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 Peaster or another part of Parker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peaster, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$4,476
$4,142
$1,148
Average Peaster, Texas Tax Savings
Ownwell’s Peaster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peaster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peaster to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Peaster. 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 Peaster, Texas
Property taxes in Peaster, Texas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Peaster is 1.71%, which is significantly higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Peaster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peaster 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 Peaster's effective property tax rate to other counties in Texas and the national median. For comparison, the 76485 zip code has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these cities compare with Peaster provides valuable insights into the varying tax landscape across Parker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Peaster Tax Rate
1.71%
Average Parker County Tax Rate
1.54%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peaster, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76485 | 1.68% | 1.69% | 1.71% | 1.73% | 1.74% |
Source: Ownwell
$1,148
Average Peaster Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Peaster, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Peaster, 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 Parker 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 Peaster, 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. For instance, the median home price in Peaster is $261,765, with tax bills ranging from $4,318 at the 25th percentile to $4,713 at the 90th percentile. The highest and lowest median tax bills, both at $4,470, are found in the 76485 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Peaster Assessed Value
$261,765
Average Parker County Assessed Value
$335,640
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peaster, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76485 | $242,537 | $249,748 | $261,765 | $273,782 | $280,993 |
Source: Ownwell
$1,148
Average Peaster Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Peaster, Texas
In Peaster, Parker County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district and is often a percentage of the market value of the property. For homeowners in Peaster, the median home price is $261,765, leading to substantial tax bills. For example, the 25th percentile tax bill stands at $4,318, while the 75th percentile reaches $4,622, and the 90th percentile hits $4,713. These figures are significantly higher than the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and local government budgets influence the assessed value and, consequently, the tax bill. High property taxes can place a financial burden on homeowners, making it essential to explore ways to reduce these costs. Ownwell specializes in property tax appeal and exemption services, helping homeowners contest their assessed values. By leveraging local market data and expert knowledge, Ownwell can identify discrepancies in the assessment and file appeals on behalf of homeowners, potentially saving them hundreds or even thousands of dollars annually.
Average Peaster Tax Bill
$4,470
Average Parker County Tax Bill
$4,986
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Peaster, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76485 | $4,227 | $4,318 | $4,470 | $4,622 | $4,713 |
Source: Ownwell
$1,148
Average Peaster Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Parker Appraisal District | |
| Website | iswdataclient.azurewebsites.net |
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