Forney, Texas Property Taxes
The median property tax rate in Forney, TX is 1.46%, notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $652,656 in Forney, the typical annual property tax bill reaches $8,892, significantly exceeding the national median of $2,690. Property taxes in Forney are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Forney'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 Forney or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forney, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$9,529
$8,842
$1,148
Average Tax Savings
Ownwell’s Forney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forney 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 Forney. 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 Forney, Texas
Property taxes in Forney, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forney is 1.46%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Forney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forney 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 Forney's effective property tax rate to other counties in Texas and the national median. For comparison, the 75126 zip code has the highest median property tax rate of 1.46%, while the 75126 zip code has the lowest median tax rate of 1.46%. Understanding how these cities compare with Forney 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 Forney Tax Rate
1.46%
Average Rockwall County Tax Rate
1.49%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forney, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75126 | 1.21% | 1.26% | 1.46% | 1.57% | 1.57% |
Source: Ownwell
$1,148
Average Forney Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Forney, Texas
In Forney, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 in Forney 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. Forney’s median home price stands at $652,656, with tax bills ranging from $7,354 at the 25th percentile to $13,388 at the 90th percentile. The highest and lowest median tax bills are both $8,892 in the 75126 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Forney Assessed Value
$652,656
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 Forney, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75126 | $453,214 | $498,979 | $652,656 | $770,690 | $1,024,790 |
Source: Ownwell
$1,148
Average Forney Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Forney, Texas
In Forney, Rockwall County, TX, property tax bills are calculated based on the assessed value of the home and the local tax rate. With a median home price of $652,656, homeowners can expect significant property tax bills. The tax bill for the 25th percentile is $7,354, while the 75th percentile sees bills around $10,969, and the 90th percentile reaches up to $13,388. The highest median tax bill in the area is $8,892, which is significantly higher than the national median property tax rate of 0.99%. Factors considered in determining the tax bill include the market value of the property and any applicable exemptions. High property taxes can place a financial strain on homeowners. This is where Ownwell steps in to help. By leveraging their expertise in property tax appeals and exemptions, Ownwell can assist homeowners in reducing their assessed property values, potentially lowering their tax bills and alleviating financial burdens.
Average Forney Tax Bill
$8,892
Average Rockwall County Tax Bill
$6,357
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Forney, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75126 | $5,940 | $7,354 | $8,892 | $10,969 | $13,388 |
Source: Ownwell
$1,148
Average Forney 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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