Shelbyville, Texas Property Taxes
The median property tax rate in Shelbyville, TX is 0.81%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $62,605 in Shelbyville, the typical annual property tax bill amounts to $357, significantly below the national median of $2,690. Property taxes in Shelbyville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Shelbyville'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 Shelbyville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shelbyville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$507
$471
Ownwell’s Shelbyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelbyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelbyville 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 Shelbyville, Texas
Property taxes in Shelbyville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelbyville is 0.81%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Shelbyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelbyville 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 Shelbyville's effective property tax rate to other counties in Texas and the national median. For comparison, the 75973 zip code in Shelby County has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Shelbyville provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelbyville Tax Rate
0.81%
Average Shelby County Tax Rate
0.80%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelbyville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75973 | 0.17% | 0.38% | 0.81% | 1.49% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Shelbyville, Texas
In Shelbyville, 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 Shelby 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 Shelbyville, 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. For instance, the median home price in Shelbyville is $62,605, with property tax bills ranging from $134 at the 25th percentile to $2,173 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 75973, with a median tax bill of $357. 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 Shelbyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Shelbyville Assessed Value
$62,605
Average Shelby County Assessed Value
$64,740
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelbyville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75973 | $7,540 | $14,820 | $62,605 | $152,235 | $282,156 |
Source: Ownwell
Property Tax Bills Across Shelbyville, Texas
In Shelbyville, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value of the property, reflecting what the home might sell for under normal conditions. Shelby County has a median home price of $62,605. The property tax rate is then applied to the assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For example, homeowners in Shelbyville can see tax bills ranging from $134 at the 25th percentile to $2,173 at the 90th percentile, with a median tax bill of $357. This means that while some homeowners pay relatively low property taxes, others may face significantly higher amounts. Understanding these factors is crucial for homeowners as property taxes can significantly impact their annual budget. Compared to the national median property tax rate of 0.99%, Shelbyville offers a diverse range of property tax bills, reflecting the varied property values within the area.
Average Shelbyville Tax Bill
$357
Average Shelby County Tax Bill
$429
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelbyville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75973 | $55 | $134 | $357 | $1,034 | $2,173 |
Source: Ownwell