Kilgore, Texas Property Taxes
The median property tax rate in Kilgore, TX is 1.52%, considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $76,299 in Kilgore, the typical annual property tax bill reaches $971, which is significantly below the national median of $2,690. Property taxes in Kilgore 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 Kilgore'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 Kilgore 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
Kilgore, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$1,160
$1,073
$1,148
Average Kilgore, Texas Tax Savings
Ownwell’s Kilgore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kilgore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kilgore to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Kilgore. 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 Kilgore, Texas
Property taxes in Kilgore, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kilgore is 1.52%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Kilgore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kilgore 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 Kilgore's effective property tax rate to other counties in Texas and the national median. For comparison, the 75662 zip code has both the highest and lowest median property tax rate of 1.52%. Understanding how these cities compare with Kilgore provides valuable insights into the varying tax landscape across Smith County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kilgore Tax Rate
1.52%
Average Smith County Tax Rate
1.53%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kilgore, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75662 | 1.01% | 1.24% | 1.52% | 1.52% | 1.52% |
Source: Ownwell
$1,148
Average Kilgore Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Kilgore, Texas
In Kilgore, 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 Smith 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 Kilgore, 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 Kilgore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Kilgore is 75662, with a median tax bill of $971.
Average Kilgore Assessed Value
$76,299
Average Smith County Assessed Value
$202,951
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kilgore, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75662 | $11,206 | $27,720 | $76,299 | $163,194 | $243,086 |
Source: Ownwell
$1,148
Average Kilgore Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Kilgore, Texas
In Kilgore, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Kilgore is $76,299, with tax bills ranging from $365 at the 25th percentile to $3,478 at the 90th percentile. The local tax rate is a significant factor, and in Kilgore's case, it results in a median tax bill of $971, which is lower than the national median property tax rate of 0.99%. Homeowners in Kilgore face varying tax bills depending on their property's assessed value and applicable exemptions. Higher assessed values generally lead to higher tax bills, impacting household budgets. Ownwell can help homeowners in Kilgore reduce their property tax bills through expert property tax appeal and exemption services. By analyzing property assessments and identifying potential errors or opportunities for exemptions, Ownwell ensures homeowners pay only their fair share. This personalized assistance can lead to substantial savings, making property ownership more affordable and less stressful.
Average Kilgore Tax Bill
$971
Average Smith County Tax Bill
$2,997
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Kilgore, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75662 | $171 | $365 | $971 | $2,251 | $3,478 |
Source: Ownwell
$1,148
Average Kilgore Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 22 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Smith Appraisal District | |
| Phone | (903) 510-8600 |
| Website | www.smithcad.org |
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