Friona, Texas Property Taxes
The median property tax rate in Friona, TX is 1.94%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Friona at $88,356, the typical annual property tax bill reaches $1,571, which is lower than the national median of $2,690. Property taxes in Friona are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Friona's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Friona or another part of Parmer County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Friona, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$1,714
$1,591
Ownwell’s Friona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Friona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Friona 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 Friona, Texas
Property taxes in Friona, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Friona is 1.94%, notably higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Friona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Friona 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 Friona's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 79035 has the highest median property tax rate of 1.94%, while the lowest median tax rate is also 1.94%. Understanding how these cities compare with Friona 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 Friona Tax Rate
1.94%
Average Parmer County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Friona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79035 | 1.30% | 1.59% | 1.94% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Friona, Texas
In Friona, 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 Friona, 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 Friona is $88,356. The annual property tax bill can range significantly, with the 25th percentile at $833 and the 90th percentile at $4,079. The zip code with the highest median tax bill is 79035, at $1,571. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Friona Assessed Value
$88,356
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 Friona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79035 | $20,156 | $48,194 | $88,356 | $160,793 | $248,994 |
Source: Ownwell
Property Tax Bills Across Friona, Texas
In Friona, located in Parmer County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value reflects the market value of the property, and the tax rate is applied to this value to compute the annual tax bill. The median home price in Friona is $88,356, and homeowners can expect tax bills that vary significantly. For instance, the 25th percentile tax bill is $833, while the 75th percentile reaches $2,872, and the 90th percentile can go as high as $4,079. These figures indicate a broad range of tax liabilities, influenced by factors such as property location, size, and market conditions. Compared to the national median property tax rate of 0.99%, Friona's tax bills reflect local economic conditions and property values, impacting homeowners' financial planning and overall cost of living.
Average Friona Tax Bill
$1,571
Average Parmer County Tax Bill
$1,407
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Friona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79035 | $399 | $833 | $1,571 | $2,872 | $4,079 |
Source: Ownwell