Fate, Texas Property Taxes
The median property tax rate in Fate, TX is 1.56%, 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 $382,350 in Fate, the typical annual property tax bill amounts to $6,225, far surpassing the national median of $2,690. Property taxes in Fate are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Fate'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 Fate or another part of Rockwall County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fate, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$5,965
$5,519
$1,148
Average Fate, Texas Tax Savings
Ownwell’s Fate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fate to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Fate. 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 Fate, Texas
Property taxes in Fate, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fate stands at 1.56%, which is notably higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Fate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fate 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 Fate’s effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 75132 has the highest median property tax rate of 2.50%, while zip code 75032 has the lowest median tax rate of 1.47%. Understanding how these cities compare with Fate provides valuable insights into the varying tax landscape across Rockwall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fate Tax Rate
1.56%
Average Rockwall County Tax Rate
1.49%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fate, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75032 | 1.43% | 1.45% | 1.47% | 1.52% | 1.56% |
| 75087 | 1.42% | 1.47% | 1.59% | 1.75% | 1.99% |
| 75132 | 1.41% | 1.80% | 2.50% | 2.50% | 2.50% |
| 75187 | N/A | N/A | N/A | N/A | N/A |
| 75189 | 1.31% | 1.39% | 1.56% | 2.01% | 2.50% |
Source: Ownwell
$1,148
Average Fate Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Fate, Texas
In Fate, 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 Rockwall 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. 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, in Fate, the median home price is $382,350. The tax bill at the 25th percentile is $5,457, while the 75th percentile tax bill is $7,214, and the 90th percentile tax bill is $8,367. The highest median tax bill is $8,120 in the 75132 zip code, and the lowest is $5,485 in the 75032 zip code. 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 Fate Assessed Value
$382,350
Average Rockwall County Assessed Value
$416,497
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fate, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75032 | $333,600 | $352,712 | $373,566 | $405,085 | $431,976 |
| 75087 | $305,024 | $335,828 | $395,658 | $460,148 | $512,251 |
| 75132 | $261,453 | $321,204 | $340,240 | $360,674 | $382,390 |
| 75187 | N/A | N/A | N/A | N/A | N/A |
| 75189 | $307,001 | $347,454 | $377,942 | $406,416 | $440,566 |
Source: Ownwell
$1,148
Average Fate Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Fate, Texas
In Fate, Rockwall County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the property's market value. For example, with a median home price of $382,350, homeowners face varying tax bills. The 25th percentile tax bill is $5,457, while the 75th percentile reaches $7,214, and the 90th percentile climbs to $8,367. These figures highlight the significant impact property taxes can have on household budgets. Compared to the national median property tax rate of 0.99%, Rockwall County's rates can lead to substantial tax bills. This is particularly evident in the highest median tax bill of $8,120 in zip code 75132. Ownwell offers property tax appeal and exemption services to help homeowners reduce these expenses. By identifying inaccuracies in assessed values and applying for eligible exemptions, Ownwell can significantly lower property tax bills, providing much-needed financial relief for homeowners in Fate.
Average Fate Tax Bill
$6,225
Average Rockwall County Tax Bill
$6,357
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Fate, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75032 | $4,888 | $5,193 | $5,485 | $6,131 | $6,368 |
| 75087 | $4,667 | $5,561 | $6,394 | $7,300 | $8,505 |
| 75132 | $3,681 | $6,459 | $8,120 | $8,769 | $9,063 |
| 75187 | N/A | N/A | N/A | N/A | N/A |
| 75189 | $4,684 | $5,389 | $6,088 | $7,102 | $8,275 |
Source: Ownwell
$1,148
Average Fate Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Rockwall Appraisal District | |
| Phone | (972) 771-2034 |
| Website | www.rockwallcad.com |
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