Troup, Texas Property Taxes
The median property tax rate in Troup, TX is 1.46%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Troup at $109,030, the typical annual property tax bill amounts to $1,551, falling below the national median of $2,690. Property taxes in Troup are based on the tax assessed value, which often is less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a deep understanding of Troup's property tax system, exploring various exemptions, and identifying potential reductions can result in substantial annual savings. Whether you reside in central Troup or its surrounding areas, familiarizing yourself with the local property tax regulations will benefit both homeowners and real estate investors alike.
Last Updated June 14, 2024
Troup, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,592
$1,473
Ownwell’s Troup Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Troup with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Troup 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 Troup, Texas
Property taxes in Troup, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Troup is 1.46%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Troup set these rates annually, and they can vary significantly across different neighborhoods. Each year, Troup 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 Troup's effective property tax rate to other counties in Texas and the national median. For comparison, the 75789 zip code has the highest median property tax rate of 1.46%, while the 75789 zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Troup provides valuable insights into the varying tax landscape across Rusk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Troup Tax Rate
1.46%
Average Rusk County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Troup, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75789 | 1.05% | 1.06% | 1.46% | 1.60% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Troup, Texas
In Troup, 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 Rusk 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 Troup, 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 Troup helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Troup is $1,551.00 in the 75789 zip code, while the lowest is also $1,551.00 in the same zip code.
Average Troup Assessed Value
$109,030
Average Rusk County Assessed Value
$113,250
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Troup, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75789 | $46,670 | $60,795 | $109,030 | $188,700 | $219,150 |
Source: Ownwell
Property Tax Bills Across Troup, Texas
In Troup, TX, 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 homeowners in Troup, the median home price is $109,030. The property tax rate in Troup is 0.99%, which translates to a median tax bill of approximately $1,081 annually. However, tax bills can vary significantly. For example, homeowners in the 25th percentile pay around $696, while those in the 75th percentile see bills closer to $2,614. At the higher end, the 90th percentile tax bill can reach up to $3,559. The highest median tax bill in Troup is $1,551, found in the 75789 zip code. These variations in tax bills can have a substantial impact on homeowners, influencing affordability and overall financial planning. Understanding how these factors interplay is crucial for homeowners looking to manage their expenses effectively.
Average Troup Tax Bill
$1,551
Average Rusk County Tax Bill
$1,761
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Troup, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75789 | $491 | $696 | $1,551 | $2,614 | $3,559 |
Source: 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 | |
|---|---|
| Rusk Appraisal District | |
| Website | www.ruskcad.org |