Glen Rose, Texas Property Taxes
The median property tax rate in Glen Rose, TX is 1.41%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Glen Rose, the typical annual property tax bill amounts to $3,740, surpassing the national median of $2,690. Property taxes in Glen Rose are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Glen Rose'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 Glen Rose 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
Glen Rose, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$4,045
$3,754
Ownwell’s Glen Rose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen Rose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen Rose 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 Glen Rose, Texas
Property taxes in Glen Rose, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen Rose is 1.41%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Glen Rose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen Rose 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 Glen Rose's effective property tax rate to other counties in Texas and the national median. For comparison, the 76043 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Glen Rose provides valuable insights into the varying tax landscape across Somervell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glen Rose Tax Rate
1.41%
Average Somervell County Tax Rate
1.34%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen Rose, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76043 | 0.72% | 1.12% | 1.41% | 1.59% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Glen Rose, Texas
In Glen Rose, 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 Somervell 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 Glen Rose, 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 median home price in Glen Rose is $286,880, with tax bills ranging from $1,907 at the 25th percentile to $7,943 at the 90th percentile. The zip code 76043 has both the highest and lowest median tax bill at $3,740. Being aware of these valuation processes in Glen Rose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glen Rose Assessed Value
$286,880
Average Somervell County Assessed Value
$301,475
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glen Rose, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76043 | $57,266 | $144,450 | $286,880 | $478,995 | $680,282 |
Source: Ownwell
Property Tax Bills Across Glen Rose, Texas
In Glen Rose, located in Somervell 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. The local tax rate, set by various taxing entities such as school districts and municipal governments, is applied to this assessed value to determine the tax bill. For homeowners in Glen Rose, the median home price is $286,880. Property tax bills can vary significantly, with the 25th percentile paying around $1,907 and the 75th percentile paying about $5,815. At the 90th percentile, tax bills can reach up to $7,943. The highest median tax bill in the area is $3,740, which is notably higher than the national median property tax rate of 0.99%. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. However, they can also be a significant financial burden for homeowners, impacting their overall cost of living and financial planning.
Average Glen Rose Tax Bill
$3,740
Average Somervell County Tax Bill
$3,715
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen Rose, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76043 | $793 | $1,907 | $3,740 | $5,815 | $7,943 |
Source: Ownwell