Josephine, Texas Property Taxes
The median property tax rate in Josephine, TX is 1.70%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Josephine, the typical annual property tax bill reaches $8,522, significantly exceeding the national median of $2,690. Property taxes in Josephine 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 Josephine'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 Josephine 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
Josephine, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$8,531
$7,917
$1,148
Average Tax Savings
Ownwell’s Josephine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Josephine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Josephine 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 Josephine. 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 Josephine, Texas
Property taxes in Josephine, Texas, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Josephine is 1.70%, which is significantly higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Josephine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Josephine 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 Josephine's effective property tax rate to other counties in Texas and the national median. For comparison, the 75189 zip code has the highest median property tax rate of 1.70%, while the 75189 zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Josephine 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 Josephine Tax Rate
1.70%
Average Rockwall County Tax Rate
1.49%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Josephine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75189 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
$1,148
Average Josephine Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Josephine, Texas
In Josephine, 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. In Josephine, 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. Being aware of these valuation processes in Josephine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Josephine are both $8,522, found in the 75189 zip code.
Average Josephine Assessed Value
$501,842
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 Josephine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75189 | $501,842 | $501,842 | $501,842 | $501,842 | $501,842 |
Source: Ownwell
$1,148
Average Josephine Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Josephine, Texas
In Josephine, located in Rockwall County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $501,842, homeowners in Josephine face a median property tax bill of $8,522. This figure is significantly higher than the national median property tax rate of 0.99%, reflecting the premium property values in Rockwall County. Several factors influence the assessed value, including the home's market value, improvements, and comparable property sales in the area. High property tax bills can be a burden for homeowners, affecting monthly budgets and overall financial health. Ownwell offers a solution by providing property tax appeal and exemption services. Our experts review your property's assessed value and work to identify discrepancies or overvaluations. By appealing incorrect assessments, Ownwell can help reduce your property tax bill, ensuring you only pay your fair share.
Average Josephine Tax Bill
$8,522
Average Rockwall County Tax Bill
$6,357
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Josephine, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75189 | $8,522 | $8,522 | $8,522 | $8,522 | $8,522 |
Source: Ownwell
$1,148
Average Josephine 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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