Pontotoc, Texas Property Taxes
The median property tax rate in Pontotoc, TX is 1.06%, 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 of $197,660 in Pontotoc, the typical annual property tax bill is around $2,092, below the national median of $2,690. Property taxes in Pontotoc are calculated based on the tax assessed value, which often falls below market value due to exemptions like those for primary residences and agricultural land. Understanding Pontotoc'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 Pontotoc or another part of San Saba County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pontotoc, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,095
$1,944
Ownwell’s Pontotoc Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Pontotoc with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pontotoc to provide an accurate estimate of 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 Pontotoc, Texas
Property taxes in Pontotoc, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pontotoc is 1.06%, which is higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Pontotoc set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pontotoc 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 Pontotoc's effective property tax rate to other counties in Texas and the national median. For comparison, the 76869 zip code within Pontotoc has both the highest and lowest median property tax rate of 1.06%. Understanding how these cities compare with Pontotoc provides valuable insights into the varying tax landscape across McCulloch County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pontotoc Tax Rate
1.06%
Average San Saba County Tax Rate
1.26%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pontotoc, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76869 | 0.88% | 0.95% | 1.06% | 1.09% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Pontotoc, Texas
In Pontotoc, 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 San Saba 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 Pontotoc, 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 Pontotoc helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 76869, with a value of $2,092.
Average Pontotoc Assessed Value
$197,660
Average San Saba County Assessed Value
$107,950
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pontotoc, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76869 | $138,588 | $160,740 | $197,660 | $454,250 | $608,204 |
Source: Ownwell
Property Tax Bills Across Pontotoc, Texas
In Pontotoc, TX, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and home improvements can influence the assessed value. For example, the median home price in Pontotoc is $197,660, and property tax rates in the area are influenced by these valuations. Homeowners in Pontotoc experience a range of tax bills, with the 25th percentile at $1,735 and the 75th percentile reaching $4,012. For those at the 90th percentile, the tax bill can be as high as $5,165. Compared to the national median property tax rate of 0.99%, Pontotoc's property taxes reflect the unique characteristics of the local real estate market. These tax obligations significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Pontotoc Tax Bill
$2,092
Average San Saba County Tax Bill
$1,273
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Pontotoc, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76869 | $1,521 | $1,735 | $2,092 | $4,012 | $5,165 |
Source: Ownwell