Wingate, Texas Property Taxes
The median property tax rate in Wingate, TX is 1.80%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wingate, the typical annual property tax bill reaches $1,155, exceeding the national median of $2,690. Property taxes in Wingate 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 Wingate'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 Wingate 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
Wingate, 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 Wingate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wingate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wingate 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 Wingate, Texas
Property taxes in Wingate, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wingate is 1.80%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wingate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wingate 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 Wingate's effective property tax rate to other counties in Texas and the national median. For comparison, the 79566 zip code has the highest median property tax rate of 1.80%, while the 79566 zip code has the lowest median tax rate of 1.80%. Understanding how these cities compare with Wingate 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 Wingate Tax Rate
1.80%
Average Runnels County Tax Rate
2.12%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wingate, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79566 | 1.59% | 1.76% | 1.80% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Wingate, Texas
In Wingate, 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 Wingate, 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 Wingate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wingate is $1155, found in the 79566 zip code, while the lowest median tax bill is also $1155 in the same zip code.
Average Wingate Assessed Value
$65,120
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 Wingate, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79566 | $3,630 | $30,820 | $65,120 | $108,015 | $154,860 |
Source: Ownwell
Property Tax Bills Across Wingate, Texas
In Wingate, Texas, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For Wingate, the median home price is $65,120, and property tax bills can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $539, while those in the 75th percentile may see bills as high as $1,901. At the 90th percentile, tax bills can reach up to $2,518. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. Compared to the national median property tax rate of 0.99%, Wingate’s rates reflect the local economic conditions and funding needs for public services. For homeowners, understanding these factors is crucial as property taxes can impact overall housing affordability and long-term financial planning.
Average Wingate Tax Bill
$1,155
Average Runnels County Tax Bill
$1,423
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wingate, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79566 | $65 | $539 | $1,155 | $1,901 | $2,518 |
Source: Ownwell