Wylie, Texas Property Taxes
The median property tax rate in Wylie, TX is 1.53%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wylie at $329,186, the typical annual property tax bill reaches $5,125, exceeding the national median of $2,690. Property taxes in Wylie 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 Wylie'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 Wylie 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
Wylie, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$5,037
$4,674
$1,148
Average Tax Savings
Ownwell’s Wylie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wylie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wylie 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 Wylie. 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 Wylie, Texas
Property taxes in Wylie, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wylie is 1.53%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wylie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wylie 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 Wylie's effective property tax rate to other counties in Texas and the national median. For comparison, the 75098 zip code has the highest median property tax rate of 1.53%, while the same zip code has the lowest median tax rate of 1.53%. Understanding how these cities compare with Wylie 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 Wylie Tax Rate
1.53%
Average Rockwall County Tax Rate
1.49%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wylie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75098 | 1.09% | 1.30% | 1.53% | 1.83% | 1.83% |
Source: Ownwell
$1,148
Average Wylie Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Wylie, Texas
In Wylie, 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 Wylie, 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 Wylie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wylie is $5,125 in the 75098 zip code, which is also the lowest, indicating a uniform tax landscape within this region.
Average Wylie Assessed Value
$329,186
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 Wylie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75098 | $31,951 | $140,215 | $329,186 | $377,064 | $452,780 |
Source: Ownwell
$1,148
Average Wylie Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Wylie, Texas
In Wylie, property tax bills are calculated based on the assessed value of a property, which is determined by the Rockwall County appraisal district. The assessed value is then multiplied by the local tax rate. With a median home price of $329,186, homeowners in Wylie can expect varying tax bills. For instance, the tax bill at the 25th percentile is $1,408, while at the 75th percentile, it reaches $6,196, and at the 90th percentile, it can go up to $7,203. Several factors influence the tax bill, including property size, location, and any applicable exemptions. The highest median tax bill in Wylie is $5,125, found in the 75098 zip code, which is significantly higher than the national median property tax rate of 0.99%. High property taxes can be burdensome for homeowners, but Ownwell offers a solution. By providing professional property tax appeal and exemption services, Ownwell helps homeowners ensure their property is fairly assessed, potentially lowering their tax bills and saving them money.
Average Wylie Tax Bill
$5,125
Average Rockwall County Tax Bill
$6,357
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wylie, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75098 | $545 | $1,408 | $5,125 | $6,196 | $7,203 |
Source: Ownwell
$1,148
Average Wylie 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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