Richland, Texas Property Taxes
The median property tax rate in Richland, TX is 1.83%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Richland, the typical annual property tax bill reaches $3,990, exceeding the national median of $2,690. Property taxes in Richland 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 Richland'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 Richland 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
Richland, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$4,033
$3,731
$1,148
Average Richland, Texas Tax Savings
Ownwell’s Richland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richland 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 Richland. 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 Richland, Texas
Property taxes in Richland, Texas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Richland is 1.83%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Richland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richland 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 Richland's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 76681 has the highest median property tax rate of 1.83%, while the same zip code also has the lowest median tax rate of 1.83%. Understanding how these cities compare with Richland provides valuable insights into the varying tax landscape across Tarrant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richland Tax Rate
1.83%
Average Tarrant County Tax Rate
1.70%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76681 | 1.73% | 1.77% | 1.83% | 1.90% | 1.93% |
Source: Ownwell
$1,148
Average Richland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Richland, Texas
In Richland, 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 Tarrant 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 Richland, 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 Richland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Richland is $3,990 in zip code 76681, while the lowest median tax bill is also $3,990 in the same zip code.
Average Richland Assessed Value
$220,380
Average Tarrant County Assessed Value
$306,713
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76681 | $188,041 | $200,168 | $220,380 | $240,593 | $252,720 |
Source: Ownwell
$1,148
Average Richland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Richland, Texas
In Richland, Tarrant County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in this area is $220,380, with tax bills typically ranging from $3,758 at the 25th percentile to $4,362 at the 90th percentile. The tax bill is determined by multiplying the assessed home value by the local tax rate, which can vary across different jurisdictions. Factors influencing your tax bill include property location, home improvements, and changes in market conditions. Homeowners in Richland often face higher property tax bills compared to the national median property tax rate of 0.99%. These high taxes can significantly impact homeowners' annual expenses. Ownwell can help homeowners in Richland save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing your property's assessed value and comparing it to similar properties, Ownwell can identify opportunities for reducing your tax burden, ensuring you pay only your fair share.
Average Richland Tax Bill
$3,990
Average Tarrant County Tax Bill
$5,114
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Richland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76681 | $3,619 | $3,758 | $3,990 | $4,222 | $4,362 |
Source: Ownwell
$1,148
Average Richland Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 24 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Tarrant Appraisal District | |
| Phone | (817) 284-0024 |
| Website | www.tad.org |
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