Sunray, Texas Property Taxes
The median property tax rate in Sunray, TX is 0.48%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Sunray, the typical annual property tax bill reaches $1,633, significantly below the national median of $2,690. Property taxes in Sunray are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sunray'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 Sunray 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
Sunray, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$1,634
$1,516
Ownwell’s Sunray Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sunray with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sunray 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 Sunray, Texas
Property taxes in Sunray, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sunray is 0.48%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Sunray set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sunray 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 Sunray's effective property tax rate to other counties in Texas and the national median. For comparison, the 79086 zip code has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Sunray provides valuable insights into the varying tax landscape across Sherman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sunray Tax Rate
0.48%
Average Sherman County Tax Rate
0.41%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sunray, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79086 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Sunray, Texas
In Sunray, 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 Sherman 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 Sunray, 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. The highest median tax bill in Sunray is $1,633, and the lowest is also $1,633, both in zip code 79086. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sunray Assessed Value
$340,370
Average Sherman County Assessed Value
$101,340
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sunray, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79086 | $124,042 | $205,165 | $340,370 | $475,575 | $556,698 |
Source: Ownwell
Property Tax Bills Across Sunray, Texas
In Sunray, located in Sherman 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. Homeowners in Sunray face property tax bills that vary widely, with the 25th percentile at $984, the 75th percentile at $2,281, and the 90th percentile reaching up to $2,670. The median home price in Sunray is $340,370, which serves as a baseline for calculating property taxes. Compared to the national median property tax rate of 0.99%, Sunray’s property tax rates can significantly impact homeowners, particularly those with homes valued above the median. The highest and lowest median tax bills in Sunray both stand at $1,633, indicating a relatively stable tax rate across different properties. Understanding these factors can help homeowners budget for their annual property tax obligations and anticipate any potential increases in their tax bills.
Average Sunray Tax Bill
$1,633
Average Sherman County Tax Bill
$384
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Sunray, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79086 | $595 | $984 | $1,633 | $2,281 | $2,670 |
Source: Ownwell