Richland Hills, Texas Property Taxes
The median property tax rate in Richland Hills, TX is 1.57%, which is 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 Hills, the typical annual property tax bill reaches $3,636, exceeding the national median of $2,690. Property taxes in Richland Hills 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 Hills' 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 Hills 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 Hills, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Richland Hills, Texas Tax Savings
Ownwell’s Richland Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richland Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richland Hills 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 Hills. 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 Hills, Texas
Property taxes in Richland Hills, Texas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richland Hills is 1.57%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Richland Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richland Hills 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 Hills' effective property tax rate to other counties in Texas and the national median. For comparison, the 76180 zip code has the highest median property tax rate of 1.96%, while the 76118 zip code has the lowest median tax rate of 1.57%. Understanding how these cities compare with Richland Hills 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 Hills Tax Rate
1.57%
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 Hills, Texas
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
76118 | 0.54% | 0.98% | 1.57% | 1.94% | 2.01% |
76180 | 0.52% | 1.62% | 1.96% | 2.32% | 2.36% |
Source: Ownwell
$1,148
Average Richland Hills Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Richland Hills, Texas
In Richland Hills, 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 Hills, 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 example, the highest median tax bill in the area is $3,822 in the 76180 zip code, while the lowest median tax bill is $3,636 in the 76118 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Richland Hills, Texas
Source: Ownwell
$13,373
$1,524,308
$3,035,243
Average Richland Hills Assessed Value
$245,809
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 Hills, Texas
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
76118 | $171,348 | $209,812 | $246,026 | $293,908 | $350,996 |
76180 | $117,500 | $155,079 | $225,269 | $233,000 | $265,064 |
Source: Ownwell
$1,148
Average Richland Hills Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Richland Hills, Texas
Property tax bills in Richland Hills, located in Tarrant County, TX, are calculated based on the assessed value of a property and the local tax rate. The median home price in this area is $245,809, with property tax rates varying across different zip codes. For instance, the highest median tax bill in the region reaches $3,822 in zip code 76180, while the lowest is $3,636 in zip code 76118. Homeowners in Richland Hills can expect to pay property taxes ranging from $2,188 at the 25th percentile to $6,013 at the 90th percentile. Factors influencing these tax bills include the property's assessed value, local tax rates, and any applicable exemptions. High property taxes can significantly impact homeowners' finances, making it essential to ensure that assessments are accurate and fair. Ownwell offers expert property tax appeal and exemption services, helping homeowners navigate the complexities of property tax assessments and potentially saving them hundreds or even thousands of dollars annually. By leveraging Ownwell's expertise, homeowners can achieve a fairer tax bill and enjoy greater financial peace of mind.
Average Richland Hills Tax Bill
$3,636
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 Hills, Texas
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
76118 | $1,290 | $2,187 | $3,636 | $4,828 | $6,014 |
76180 | $1,157 | $2,439 | $3,822 | $5,028 | $5,542 |
Source: Ownwell
$1,148
Average Richland Hills 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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