Laredo, Texas Property Taxes
The median property tax rate in Laredo, TX is 1.52%, considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Laredo, the typical annual property tax bill reaches $1,383, which is below the national median of $2,690. Property taxes in Laredo 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 Laredo'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 Laredo 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
Laredo, 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 Laredo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laredo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laredo 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 Laredo, Texas
Property taxes in Laredo, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laredo is 1.52%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Laredo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laredo 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 Laredo's effective property tax rate to other counties in Texas and the national median. For comparison, the 78040 zip code has the highest median property tax rate of 1.52%, while the 78040 zip code also has the lowest median tax rate of 1.52%. Understanding how these cities compare with Laredo provides valuable insights into the varying tax landscape across Webb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laredo Tax Rate
1.52%
Average San Augustine County Tax Rate
1.41%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laredo, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78040 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Laredo, Texas
In Laredo, 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 Webb 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 Laredo, 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 Laredo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,383, found in the 78040 zip code.
Average Laredo Assessed Value
$90,860
Average San Augustine County Assessed Value
$60,840
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laredo, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78040 | $90,860 | $90,860 | $90,860 | $90,860 | $90,860 |
Source: Ownwell
Property Tax Bills Across Laredo, Texas
In Laredo, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor and reflects the market value of the property. For instance, the median home price in Laredo is $90,860. Property tax rates are applied to this assessed value to calculate the annual tax bill. In Laredo, the median property tax bill is $1,383, which is significantly higher than the national median property tax rate of 0.99%. Several factors are considered when determining the tax bill, including the property's size, location, and any improvements made. Homeowners in Laredo can expect their tax bills to be consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,383. This uniformity in tax bills suggests a stable property tax environment but can also mean a higher financial burden for homeowners compared to other regions. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Laredo Tax Bill
$1,383
Average San Augustine County Tax Bill
$792
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Laredo, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78040 | $1,383 | $1,383 | $1,383 | $1,383 | $1,383 |
Source: Ownwell