Granbury, Somervell County, Texas Property Taxes

Name: Property Tax Bills Across Granbury, Somervell County, Texas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Granbury, TX effective property tax rate: 1.39%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Granbury, TX home value: $193,745
Median annual Granbury, TX tax bill: $2,245, $155 lower than the national median property tax bill of $2,400.

How are property taxes in Somervell calculated?

Property taxes in Granbury, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Granbury’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Granbury, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Granbury, Somervell County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.39%

Estimate Property Tax Bill

$2,693

$2,499

Ownwell’s Granbury Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Granbury with just two data points. By entering your property's estimated assessed value, our calculator applies Granbury’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Somervell County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Granbury, Somervell County, Texas

Local government entities determine tax rates, which can differ significantly within a state. This variation occurs because each county annually assesses its budgetary needs for public services, dividing this by the total value of all taxable properties in its area. This calculation establishes the property tax rate. While the process involves votes and legislation, this is the basic annual procedure. Granbury in Hood County, Texas, exhibits an effective property tax rate that aligns with the highest and lowest median tax rates within the area, all at 1.39%. This rate is notably higher than both the Texas median property tax rate and the national median of 1.02%. Consequently, homeowners in Granbury face higher property tax bills compared to the national average. Understanding these rates is crucial for homeowners considering appealing their property taxes or seeking exemptions. By being informed about local tax rates, residents can make educated decisions regarding their property tax obligations.

Property Tax Rates Across Granbury, Somervell County, Texas

Source: Ownwell

0.42%

0.91%

1.41%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Granbury Tax Rate

1.39%

Median Effective Somervell County Tax Rate

1.34%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Granbury, Somervell County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
76048	0.73%	0.86%	1.39%	1.51%	1.66%

Source: Ownwell

Property Tax Assessment Values Across Granbury, Somervell County, Texas

When examining property taxes in Granbury, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Somervell County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Somervell County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Granbury. For example, the median home price in Granbury is $193,745, with tax bills ranging significantly across the county. The zip code 76048 has the highest median home price at $193,745.

Property Tax Assessment Values Across Granbury, Somervell County, Texas

Source: Ownwell

$193,745

$519,473

$845,200

Median Granbury Market Value

$193,745

Median Somervell County Market Value

$301,475

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Granbury, Somervell County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
76048	$81,966	$132,750	$193,745	$266,600	$459,168

Source: Ownwell

Property Tax Bills Across Granbury, Somervell County, Texas

In Granbury, located in Somervell County, TX, property tax bills are calculated based on the assessed value of a home. This value is determined by the local tax assessor and reflects the estimated market value of the property. The tax rate, set by local taxing authorities, is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill.

Homeowners in Granbury face a median property tax bill that can vary significantly, with the 25th percentile at $1,414 and the 75th percentile reaching $3,441. This range highlights the potential financial burden on homeowners, especially when compared to the national median property tax bill of $2,400.

Ownwell provides valuable assistance to homeowners by offering property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners potentially lower their assessed values, resulting in significant savings on their property tax bills.

Property Tax Bills Across Granbury, Somervell County, Texas

Source: Ownwell

$2,245

$3,650

$5,054

Median Granbury Tax Bill

$2,245

Median Somervell County Tax Bill

$3,715

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Granbury, Somervell County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
76048	$949	$1,414	$2,245	$3,441	$6,173

Source: Ownwell