Lawn, Texas Property Taxes
The median property tax rate in LAWN, TX is 1.74%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in LAWN, the typical annual property tax bill reaches $2,923, exceeding the national median of $2,690. Property taxes in LAWN 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 LAWN'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 LAWN 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
Lawn, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s LAWN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LAWN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LAWN 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 Lawn, Texas
Property taxes in LAWN, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LAWN is 1.74%, higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within LAWN set these rates annually, and they can vary significantly across different neighborhoods. Each year, LAWN 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 LAWN's effective property tax rate to other counties in Texas and the national median. For comparison, the 79530 zip code has the highest median property tax rate of 1.74%, while the same 79530 zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with LAWN provides valuable insights into the varying tax landscape across Runnels County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lawn Tax Rate
1.74%
Average Runnels County Tax Rate
2.12%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79530 | 1.62% | 1.69% | 1.74% | 1.83% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Lawn, Texas
In LAWN, 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 Runnels 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 LAWN, 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. The median home price in LAWN is $165,650, with tax bills ranging from $842 at the 25th percentile to $5,669 at the 90th percentile. The zip code with the highest median tax bill is 79530, at $2,923. Being aware of these valuation processes in LAWN helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lawn Assessed Value
$165,650
Average Runnels County Assessed Value
$72,550
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79530 | $20,050 | $44,885 | $165,650 | $296,098 | $349,760 |
Source: Ownwell
Property Tax Bills Across Lawn, Texas
In LAWN, located in Runnels County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $165,650, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Several factors influence the tax bill, including property size, location, and any improvements made to the property. Tax bills in LAWN can range significantly, with the 25th percentile at $842 and the 75th percentile reaching $4,679. Homeowners in the 90th percentile can face tax bills as high as $5,669. These variations highlight the importance of understanding one's property assessment and potential exemptions to manage tax liabilities effectively. Compared to the national median property tax rate of 0.99%, LAWN's rates can lead to substantial differences in tax bills, impacting homeowners' financial planning and overall cost of living.
Average Lawn Tax Bill
$2,923
Average Runnels County Tax Bill
$1,423
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79530 | $372 | $842 | $2,923 | $4,679 | $5,669 |
Source: Ownwell