Corrigan, Texas Property Taxes
The median property tax rate in Corrigan, TX is 0.81%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Corrigan, the typical annual property tax bill reaches $629, well below the national median of $2,690. Property taxes in Corrigan 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 Corrigan'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 Corrigan or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Corrigan, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$783
$724
Ownwell’s Corrigan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Corrigan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Corrigan 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 Corrigan, Texas
Property taxes in Corrigan, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Corrigan is 0.81%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Corrigan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Corrigan 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 Corrigan's effective property tax rate to other counties in Texas and the national median. For comparison, the 75939 zip code has the highest median property tax rate of 0.81%, while the same 75939 zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Corrigan provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Corrigan Tax Rate
0.81%
Average Polk County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Corrigan, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75939 | 0.14% | 0.39% | 0.81% | 1.25% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Corrigan, Texas
In Corrigan, 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 Polk 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 Corrigan, 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 highest median tax bill in Corrigan is $629 in the 75939 zip code, which also has the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Corrigan Assessed Value
$96,670
Average Polk County Assessed Value
$100,271
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Corrigan, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75939 | $16,657 | $48,677 | $96,670 | $174,033 | $305,201 |
Source: Ownwell
Property Tax Bills Across Corrigan, Texas
In Corrigan, located in Polk County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county appraisal district and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the tax bill, including the home's market value and any applicable exemptions. For instance, the median home price in Corrigan is $96,670. Homeowners in the 25th percentile of tax bills pay around $225, while those in the 75th percentile face bills of approximately $1,290. At the higher end, the 90th percentile tax bill can reach up to $2,275. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the rates in Corrigan can vary, reflecting the local economic conditions and public service needs.
Average Corrigan Tax Bill
$629
Average Polk County Tax Bill
$831
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Corrigan, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75939 | $76 | $225 | $629 | $1,290 | $2,275 |
Source: 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 | |
|---|---|
| Polk Appraisal District | |
| Website | propaccess.trueautomation.com |