River Oaks, Texas Property Taxes
The median property tax rate in River Oaks, TX is 1.81%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $206,972, the typical annual property tax bill in River Oaks reaches $3,557, surpassing the national median of $2,690. Property taxes in River Oaks are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding River Oaks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of River Oaks or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
River Oaks, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.81%
Estimate Property Tax Bill
$3,746
$3,466
$1,148
Average River Oaks, Texas Tax Savings
Ownwell’s RIVER OAKS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RIVER OAKS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RIVER OAKS 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 RIVER OAKS. 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 River Oaks, Texas
Property taxes in River Oaks, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in River Oaks is 1.81%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within River Oaks set these rates annually, and they can vary significantly across different neighborhoods. Each year, River Oaks 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 River Oaks's effective property tax rate to other counties in Texas and the national median. For comparison, the 76114 zip code has the highest median property tax rate of 1.81%, while 76114 also has the lowest median tax rate of 1.81%. Understanding how these cities compare with River Oaks 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 River Oaks Tax Rate
1.81%
Average Tarrant County Tax Rate
1.70%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across River Oaks, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76114 | 0.60% | 1.17% | 1.81% | 2.22% | 2.48% |
Source: Ownwell
$1,148
Average River Oaks Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across River Oaks, Texas
In River Oaks, 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 River Oaks, 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. For example, the median home price in River Oaks is $206,972, with tax bills ranging from $2,275 at the 25th percentile to $5,923 at the 90th percentile. The highest median tax bill is $3,557, found in the 76114 zip code. 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 River Oaks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average River Oaks Assessed Value
$206,972
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 River Oaks, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76114 | $152,418 | $174,088 | $206,972 | $245,550 | $294,651 |
Source: Ownwell
$1,148
Average River Oaks Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across River Oaks, Texas
Property tax bills in River Oaks, Tarrant County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the home. For example, with a median home price of $206,972, property taxes can vary significantly. Homeowners in the 25th percentile might pay around $2,275, while those in the 75th percentile could see bills as high as $4,670. The highest median tax bill in the area is $3,557, which is considerably higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, impacting the overall tax bill. Ownwell can help homeowners in River Oaks by providing expert property tax appeal and exemption services. By leveraging local market data and legal expertise, Ownwell can identify opportunities to reduce assessed values, potentially lowering annual tax bills and saving homeowners hundreds or even thousands of dollars.
Average River Oaks Tax Bill
$3,557
Average Tarrant County Tax Bill
$5,114
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across River Oaks, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76114 | $1,216 | $2,275 | $3,557 | $4,670 | $5,923 |
Source: Ownwell
$1,148
Average River Oaks 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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