Sherman County, Texas Property Taxes
The median property tax rate in Sherman County is 0.41%, which is significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Sherman County, the typical annual property tax bill is $384, far below the national median of $2,690. Property taxes in Sherman County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Sherman County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Stratford or another part of Sherman County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sherman County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$415
$386
Ownwell’s Sherman County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Sherman County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Sherman County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Sherman County, Texas
Property taxes in Sherman County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Sherman County is 0.41%, which is lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Sherman County set these rates annually, and they can vary significantly between different areas within the county. Each year, Sherman County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Sherman County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Texhoma has one of the higher property tax rates in Texas at 0.50%, while the city of Sunray boasts one of the lowest at 0.48%. Analyzing how Sherman County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Sherman County Tax Rate
0.41%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Sherman County, Texas
In Sherman County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Sherman County Appraisal District. The assessed value, however, 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. Assessment notices in Sherman County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Sherman County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Sunray has the highest median tax bill at $1,633, while Texhoma has the lowest at $323.
Average Sherman County Assessed Value
$101,340
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Bills Across Sherman County, Texas
Property tax bills in Sherman County, TX are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is based on the market value of the property, which can fluctuate with real estate trends. Sherman County's property tax rate is influenced by various local government needs, such as funding for schools, infrastructure, and public services. Homeowners in Sherman County experience a range of tax bills. For instance, the 25th percentile tax bill stands at $218, while the 75th percentile reaches $636, and the 90th percentile can go up to $985. The median home price in the county is $101,340, which is relatively modest compared to the national median property tax rate of 0.99%. Notably, the city of Sunray has the highest median tax bill in the county at $1,633, whereas Texhoma has the lowest at $323. These differences can significantly impact homeowners' financial planning and overall affordability of living in various parts of the county.
Average Sherman County Tax Bill
$384
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690