Fort Mc Kavett, Texas Property Taxes
The median property tax rate in Fort Mc Kavett, TX is 0.12%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Fort Mc Kavett at $380,315, the typical annual property tax bill is $446, which is well below the national median of $2,690. Property taxes in Fort Mc Kavett are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Fort Mc Kavett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fort Mc Kavett 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
Fort Mc Kavett, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.12%
Estimate Property Tax Bill
$456
$422
Ownwell’s FORT MC KAVETT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT MC KAVETT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT MC KAVETT 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 Fort Mc Kavett, Texas
Property taxes in Fort McKavett, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort McKavett is 1.48%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Fort McKavett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort McKavett 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 Fort McKavett's effective property tax rate to other counties in Texas and the national median. For comparison, the 78212 ZIP code has the highest median property tax rate of 2.79%, while the 76945 ZIP code has the lowest median tax rate of 0.12%. Understanding how these cities compare with Fort McKavett provides valuable insights into the varying tax landscape across Schleicher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Mc Kavett Tax Rate
0.12%
Average Schleicher County Tax Rate
1.53%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Mc Kavett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76841 | 0.11% | 0.12% | 0.12% | 0.19% | 0.22% |
Source: Ownwell
Property Tax Assessment Values Across Fort Mc Kavett, Texas
In Fort McKavett, 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 Schleicher 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 Fort McKavett, 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 Fort McKavett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76841 has both the highest and lowest median tax bill, amounting to $446.
Average Fort Mc Kavett Assessed Value
$380,315
Average Schleicher County Assessed Value
$56,040
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Mc Kavett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76841 | $265,872 | $331,995 | $380,315 | $569,005 | $887,794 |
Source: Ownwell
Property Tax Bills Across Fort Mc Kavett, Texas
In Fort McKavett, located in Schleicher County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the property's market value. For homeowners in Fort McKavett, the median home price is $380,315. The tax rate is applied to this assessed value to calculate the annual tax bill. Factors influencing the tax bill include the property's location, size, and any applicable exemptions. In Schleicher County, the 25th percentile tax bill is $344, while the 75th percentile tax bill reaches $1,604. For those at the 90th percentile, the tax bill can go up to $2,299. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. Homeowners in Fort McKavett may find their tax bills higher or lower than the national median property tax rate of 0.99%, depending on the assessed value and applicable exemptions.
Average Fort Mc Kavett Tax Bill
$446
Average Schleicher County Tax Bill
$773
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Mc Kavett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76841 | $283 | $344 | $446 | $1,604 | $2,299 |
Source: Ownwell