Old Glory, Texas Property Taxes
The median property tax rate in Old Glory, TX is 2.42%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Old Glory at $77,775, the typical annual property tax bill reaches $1,886, which is below the national median of $2,690. Property taxes in Old Glory are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Old Glory'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 Old Glory or another part of Stonewall County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Old Glory, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.42%
Estimate Property Tax Bill
$1,882
$1,747
Ownwell’s Old Glory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Old Glory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Old Glory 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 Old Glory, Texas
Property taxes in Old Glory, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Old Glory is 2.42%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Old Glory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Old Glory 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 Old Glory's effective property tax rate to other counties in Texas and the national median. For comparison, the 79540 zip code has the highest median property tax rate of 2.42%, while the 79540 zip code also has the lowest median tax rate of 2.42%. Understanding how these cities compare with Old Glory provides valuable insights into the varying tax landscape across Stonewall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Old Glory Tax Rate
2.42%
Average Stonewall County Tax Rate
3.00%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Old Glory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79540 | 2.42% | 2.42% | 2.42% | 2.42% | 2.42% |
Source: Ownwell
Property Tax Assessment Values Across Old Glory, Texas
In Old Glory, 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 Stonewall 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 Old Glory, 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. For instance, the highest median tax bill in Old Glory is $1886 in the 79540 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Old Glory Assessed Value
$77,775
Average Stonewall County Assessed Value
$47,990
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Old Glory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79540 | $27,345 | $59,192 | $77,775 | $92,308 | $152,440 |
Source: Ownwell
Property Tax Bills Across Old Glory, Texas
In Old Glory, located in Stonewall County, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in this area is $77,775. Homeowners' tax bills can vary significantly, with the 25th percentile paying around $1,435, while those in the 75th percentile face bills closer to $2,238. At the higher end, the 90th percentile sees tax bills reaching up to $3,697. The local property tax rate is a crucial factor that influences these amounts, and it can differ from the national median property tax rate of 0.99%. Several factors are considered when determining the tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners, this means that even within the same city, tax bills can vary widely, impacting household budgets and financial planning. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Old Glory Tax Bill
$1,886
Average Stonewall County Tax Bill
$1,361
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Old Glory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79540 | $663 | $1,435 | $1,886 | $2,238 | $3,697 |
Source: Ownwell