Parmer County Property Taxes
The median property tax rate in Parmer County is 1.63%, which is significantly higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With a median home value of $93,759 in Parmer County, the typical annual property tax bill reaches $1,407, which is below the national median of $2,690. Property taxes in Parmer County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Parmer County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Friona or another part of Parmer County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parmer County 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 Parmer County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Parmer County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Parmer County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Parmer County, Texas
Property taxes in Parmer County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Parmer County is 1.63%, which is higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Parmer County set these rates annually, and they can vary significantly between different areas within the county. Each year, Parmer County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Parmer County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Friona has one of the higher property tax rates in Texas at 1.94%, while the city of Muleshoe boasts one of the lowest at 1.30%. Analyzing how Parmer County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Parmer County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Parmer County, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Parmer. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Parmer Appraisal District. The assessed value, however, 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 Parmer are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Muleshoe has the highest median tax bill at $2,538, while Bovina has the lowest at $960. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Parmer County Assessed Value
$93,759
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parmer County, Texas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bovina | $15,829 | $43,637 | $81,229 | $121,989 | $165,436 |
| Farwell | $26,607 | $61,798 | $110,644 | $188,858 | $320,862 |
| Friona | $20,156 | $48,194 | $88,356 | $160,793 | $248,994 |
| Lazbuddie | $12,284 | $83,576 | $117,660 | $207,597 | $284,620 |
| Muleshoe | $89,036 | $127,756 | $204,916 | $297,892 | $616,513 |
Source: Ownwell
Property Tax Bills Across Parmer County, Texas
In Parmer County, TX, property tax bills are calculated based on the assessed value of a home, which is influenced by the median home price of $93,759. The tax bill is determined by applying the county's property tax rate to this assessed value. Several factors are considered in this calculation, including the property's location, any applicable exemptions, and the specific tax rate set by local taxing authorities. Homeowners in Parmer County experience a range of tax bills. For instance, the 25th percentile tax bill is $732, while the 75th percentile tax bill reaches $2,546. At the higher end, the 90th percentile tax bill is $3,803. Comparatively, Muleshoe has the highest median tax bill in the county at $2,538, whereas Bovina has the lowest median tax bill at $960. These property tax bills significantly impact homeowners, as they must budget for these annual expenses. The variability in tax bills can affect financial planning, especially when compared to the national median property tax rate of 0.99%.
Average Parmer County Tax Bill
$1,407
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690