Hermleigh, Texas Property Taxes
The median property tax rate in Hermleigh, TX is 1.22%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Hermleigh at $91,187, the typical annual property tax bill amounts to $853, falling below the national median of $2,690. Property taxes in Hermleigh are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Hermleigh's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in Hermleigh or another part of Scurry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hermleigh, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,112
$1,029
Ownwell’s Hermleigh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hermleigh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hermleigh 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 Hermleigh, Texas
Property taxes in Hermleigh, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hermleigh is 1.22%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Hermleigh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hermleigh 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 Hermleigh's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 79526 has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Hermleigh provides valuable insights into the varying tax landscape across Scurry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hermleigh Tax Rate
1.22%
Average Scurry County Tax Rate
1.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hermleigh, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79526 | 0.30% | 0.67% | 1.22% | 1.83% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Hermleigh, Texas
In Hermleigh, 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 Scurry 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 Hermleigh, 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 Hermleigh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hermleigh is $91,187, with tax bills ranging from $255 at the 25th percentile to $3,157 at the 90th percentile. The zip code with the highest median tax bill is 79526, valued at $853.00.
Average Hermleigh Assessed Value
$91,187
Average Scurry County Assessed Value
$80,259
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hermleigh, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79526 | $13,100 | $40,132 | $91,187 | $166,902 | $245,654 |
Source: Ownwell
Property Tax Bills Across Hermleigh, Texas
In Hermleigh, located in Scurry 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 and reflects the market value of the property. For example, the median home price in Hermleigh is $91,187. Local tax rates are applied to this assessed value to determine the annual tax bill. Homeowners in Hermleigh can expect a wide range in property tax bills. At the 25th percentile, the tax bill is approximately $255, while at the 75th percentile, it rises to about $1,987. For those at the 90th percentile, the tax bill can be as high as $3,157. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Hermleigh's property tax bills can vary significantly, affecting homeowners differently based on the assessed value of their property and the applicable local tax rate.
Average Hermleigh Tax Bill
$853
Average Scurry County Tax Bill
$996
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Hermleigh, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79526 | $99 | $255 | $853 | $1,987 | $3,157 |
Source: Ownwell