Goodrich, Texas Property Taxes
The median property tax rate in Goodrich, TX is 1.15%, slightly higher than the national median of 0.99% but below the Texas state median of 1.67%. With the median home value in Goodrich being $81,533, the typical annual property tax bill amounts to $702, which is significantly lower than the national median of $2,690. Property taxes in Goodrich are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Goodrich'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 Goodrich or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Goodrich, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$938
$870
Ownwell’s Goodrich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goodrich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goodrich 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 Goodrich, Texas
Property taxes in Goodrich, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goodrich is 1.15%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Goodrich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goodrich 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 Goodrich's effective property tax rate to other counties in Texas and the national median. For comparison, the 77335 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Goodrich 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 Goodrich Tax Rate
1.15%
Average Polk County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goodrich, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77335 | 0.31% | 0.79% | 1.15% | 1.35% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Goodrich, Texas
In Goodrich, 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 Goodrich, 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 example, the median home price in Goodrich is $81,533. Homeowners in the 25th percentile can expect a tax bill around $224, while those in the 75th percentile might see a tax bill of approximately $1,432, with the 90th percentile reaching up to $2,498. The highest and lowest median tax bills both occur in the 77335 zip code, with values of $702. 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 Goodrich Assessed Value
$81,533
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 Goodrich, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77335 | $10,766 | $34,160 | $81,533 | $148,692 | $232,788 |
Source: Ownwell
Property Tax Bills Across Goodrich, Texas
In Goodrich, property tax bills are calculated based on the assessed value of the property, which is determined by the Polk County Appraisal District. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions are considered during the assessment process. For homeowners in Goodrich, the property tax rate is a critical factor, with the median home price at $81,533. Tax bills can vary significantly, ranging from $224 at the 25th percentile to $2,498 at the 90th percentile, reflecting the diversity in property values and assessed rates. The highest and lowest median tax bills in the area are both $702, indicating a level of consistency within certain neighborhoods. Compared to the national median property tax rate of 0.99%, Goodrich homeowners may find their rates relatively competitive. Understanding these factors is essential for homeowners to manage their finances and anticipate their annual property tax obligations effectively.
Average Goodrich Tax Bill
$702
Average Polk County Tax Bill
$831
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Goodrich, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77335 | $72 | $224 | $702 | $1,432 | $2,498 |
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 |