Bovina, Texas Property Taxes
The median property tax rate in Bovina, TX is 1.47%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $81,229 in Bovina, the typical annual property tax bill amounts to $960, which is below the national median of $2,690. Property taxes in Bovina are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bovina'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 Bovina or another part of Parmer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bovina, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,194
$1,105
Ownwell’s Bovina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bovina with just two data points. By entering your property's assessed value, the calculator applies the median tax rate in Bovina 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 Bovina, Texas
Property taxes in Bovina, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bovina is 1.47%, higher than both the Texas state median of 1.6% and the U.S. national median of 0.99%. Local government entities within Bovina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bovina 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 Bovina's effective property tax rate to other counties in Texas and the national median. For comparison, the 79009 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Bovina provides valuable insights into the varying tax landscape across Parmer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bovina Tax Rate
1.47%
Average Parmer County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bovina, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79009 | 0.78% | 1.09% | 1.47% | 1.63% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Bovina, Texas
In Bovina, 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 Parmer 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 Bovina, 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. For instance, the median home price in Bovina is $81,229, with tax bills ranging from $512 at the 25th percentile to $2,251 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 79009, at $960. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bovina Assessed Value
$81,229
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 Bovina, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79009 | $15,829 | $43,637 | $81,229 | $121,989 | $165,436 |
Source: Ownwell
Property Tax Bills Across Bovina, Texas
In Bovina, located in Parmer County, TX, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county's appraisal district. This value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. Homeowners in Bovina face varying property tax bills. For instance, the median home price is $81,229. At the 25th percentile, tax bills are around $512, while at the 75th percentile, they rise to approximately $1,650. The 90th percentile sees tax bills reaching up to $2,251. This range indicates a significant variation in property tax burdens, affecting homeowners differently based on their property values. Compared to the national median property tax rate of 0.99%, Bovina's rates reflect the local economic and property market conditions, impacting how much homeowners ultimately pay each year.
Average Bovina Tax Bill
$960
Average Parmer County Tax Bill
$1,407
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Bovina, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79009 | $229 | $512 | $960 | $1,650 | $2,251 |
Source: Ownwell