Rowena, Texas Property Taxes
The median property tax rate in Rowena, TX is 1.64%, slightly lower than the Texas state median of 1.67% but still higher than the national median of 0.99%. With the median home value in Rowena at $103,515, the typical annual property tax bill reaches $1,574, which is below the national median of $2,690. Property taxes in Rowena are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Rowena'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 Rowena 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
Rowena, 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 Rowena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rowena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rowena 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 Rowena, Texas
Property taxes in Rowena, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rowena is 1.64%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Rowena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rowena 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 Rowena's effective property tax rate to other counties in Texas and the national median. For comparison, the 76875 zip code has the highest median property tax rate of 1.64%, while the 76875 zip code has the lowest median tax rate of 1.64%. Understanding how these cities compare with Rowena 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 Rowena Tax Rate
1.64%
Average Runnels County Tax Rate
2.12%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rowena, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76875 | 1.48% | 1.58% | 1.64% | 1.64% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Rowena, Texas
In Rowena, 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 Rowena, 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 Rowena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Rowena, the highest median tax bill is $1,574 in the 76875 zip code, which is also the lowest median tax bill. The median home price in this area is $103,515, with tax bills ranging from $919 at the 25th percentile to $3,103 at the 90th percentile.
Average Rowena Assessed Value
$103,515
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 Rowena, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76875 | $22,134 | $57,975 | $103,515 | $161,688 | $202,890 |
Source: Ownwell
Property Tax Bills Across Rowena, Texas
Property tax bills in Rowena, located in Runnels County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. In Rowena, the median home price is $103,515. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Homeowners in Rowena typically see a range of tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is $919, while the 75th percentile tax bill is $2,564, and the 90th percentile tax bill can reach up to $3,103. These figures show that property taxes can significantly impact homeowners, influencing their annual expenses and overall financial planning. Compared to the national median property tax rate of 0.99%, Rowena's property tax rates can vary widely, making it essential for homeowners to understand their specific tax obligations.
Average Rowena Tax Bill
$1,574
Average Runnels County Tax Bill
$1,423
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Rowena, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76875 | $364 | $919 | $1,574 | $2,564 | $3,103 |
Source: Ownwell