Norton, Runnels County, Texas Property Taxes
Median NORTON, TX effective property tax rate: 1.64%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median NORTON, TX home value: $80,140
Median annual NORTON, TX tax bill: $1,227, $1,173 lower than the national median property tax bill of $2,400.
How are property taxes in Runnels calculated?
Property taxes in NORTON, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding NORTON’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in NORTON, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Norton, Runnels County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.64%
Estimate Property Tax Bill
$1,314
$1,220
Property Tax Rates Across Norton, Runnels County, Texas
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Norton in Runnels County, TX, has an effective property tax rate of 1.64%, which is significantly higher than the national median of 1.02%. This rate reflects the county's budgetary needs and property values. By contrast, the median property tax rate across Texas is also 1.64%, highlighting that Norton aligns with the state average but remains above the national figure. Property owners in Norton can expect their tax bills to reflect these rates, emphasizing the importance of understanding local tax dynamics. When compared nationally, Norton's rate indicates a higher tax burden, which can impact overall affordability and cost of living.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Norton Tax Rate
1.64%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Runnels County Tax Rate
2.12%
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Norton, Runnels County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76865 | 0.91% | 1.44% | 1.64% | 1.69% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Norton, Runnels County, Texas
When examining property taxes in Norton, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Runnels County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Runnels County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Norton.
For example, the median home price in Norton is $80,140, with tax bills ranging significantly across the county. Zip code 76865 has the highest median home price at $80,140.
Property Tax Assessment Values Across Norton, Runnels County, Texas
Source: Ownwell
$55,370
$106,260
$157,150
Median Norton Market Value
$80,140
Median Runnels County Market Value
$72,550
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Norton, Runnels County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76865 | $13,988 | $33,750 | $80,140 | $118,640 | $275,860 |
Source: Ownwell
Property Tax Bills Across Norton, Runnels County, Texas
In Norton, located in Runnels County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is influenced by the market value of the property. Homeowners in Norton face a median tax bill of $1,227, which is below the national median of $2,400. This lower tax bill is reflective of the region's median home price of $80,140. However, tax bills can vary widely; for instance, the 25th percentile tax bill is $558, while the 90th percentile reaches $3,299, indicating significant variability based on property value assessments.
These tax bills can impact homeowners by affecting their annual budgeting and financial planning. Ownwell can assist homeowners in Norton by providing property tax appeal and exemption services. Our team of experts reviews property assessments to identify potential discrepancies and opportunities for tax reductions. By leveraging our services, homeowners can ensure they are not overpaying and potentially save significantly on their property tax bills.
Median Norton Tax Bill
$1,227
Median Runnels County Tax Bill
$1,423
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Norton, Runnels County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76865 | $199 | $558 | $1,227 | $1,841 | $3,299 |
Source: Ownwell