Milam, Texas Property Taxes
The median property tax rate in Milam, TX is 1.18%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value in Milam of $60,305, the typical annual property tax bill amounts to $644, significantly below the national median of $2,690. Property taxes in Milam are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Milam's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in considerable annual savings. Whether you're in the heart of Milam or another part of the city, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Milam, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$712
$660
Ownwell’s MILAM Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in MILAM using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MILAM to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, giving you a clearer financial picture. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, assigned by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Milam, Texas
Property taxes in Milam, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milam is 1.01%, slightly higher than both the Texas state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Milam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milam 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 Milam's effective property tax rate to other counties in Texas and the national median. For comparison, the 75959 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Milam provides valuable insights into the varying tax landscape across Milam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milam Tax Rate
1.18%
Average Sabine County Tax Rate
1.18%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milam, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75959 | 0.73% | 0.95% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Milam, Texas
In Milam, 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 Milam 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 Milam, 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 Milam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 75959, with a median tax bill of $644.
Average Milam Assessed Value
$60,305
Average Sabine County Assessed Value
$62,500
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milam, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75959 | $8,517 | $22,268 | $60,305 | $172,235 | $328,472 |
Source: Ownwell
Property Tax Bills Across Milam, Texas
In Milam, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. Factors such as the property's location, size, and condition influence its assessed value. Once the assessed value is established, local tax rates are applied to determine the final tax bill. For example, in Milam, the median home price is $60,305. Homeowners in the 25th percentile can expect a tax bill around $250, while those in the 75th percentile might see a bill closer to $1,670. At the 90th percentile, tax bills can reach up to $2,970. These figures highlight the variability in property tax bills due to differences in property values and local tax rates. Compared to the national median property tax rate of 0.99%, Milam's property taxes can be relatively manageable, but they still represent a significant expense for homeowners. Understanding these factors can help residents better anticipate their annual property tax obligations and plan accordingly.
Average Milam Tax Bill
$644
Average Sabine County Tax Bill
$734
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Milam, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75959 | $84 | $250 | $644 | $1,670 | $2,970 |
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 | |
|---|---|
| Sabine Appraisal District | |
| Website | iswdataclient.azurewebsites.net |