Seagraves, Texas Property Taxes
The median property tax rate in Seagraves, TX is 0.97%, slightly below the national median of 0.99% and significantly lower than the Texas state median of 1.67%. With the median home value in Seagraves at $190,144, the typical annual property tax bill reaches $1,736, which is notably less than the national median of $2,690. Property taxes in Seagraves are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Seagraves' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Seagraves 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
Seagraves, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,844
$1,712
Ownwell’s Seagraves Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seagraves with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seagraves 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 Seagraves, Texas
Property taxes in Seagraves, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seagraves is 1.24%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Seagraves set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seagraves 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 Seagraves's effective property tax rate to other counties in Texas and the national median. For comparison, the 79359 zip code has the highest median property tax rate of 1.24%, while the 79359 zip code has the lowest median tax rate of 1.24%. Understanding how these cities compare with Seagraves provides valuable insights into the varying tax landscape across Gaines County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seagraves Tax Rate
0.97%
Average Terry County Tax Rate
2.37%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seagraves, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79359 | 0.70% | 0.83% | 0.97% | 1.80% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Seagraves, Texas
In Seagraves, 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 Terry 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 Seagraves, 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 Seagraves is $1,736 in the 79359 zip code, while the lowest median tax bill is also $1,736 in the same 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 Seagraves Assessed Value
$190,144
Average Terry County Assessed Value
$43,944
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seagraves, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79359 | $54,064 | $81,186 | $190,144 | $265,050 | $310,361 |
Source: Ownwell
Property Tax Bills Across Seagraves, Texas
In Seagraves, located in Terry County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the property's market value. Homeowners can expect their tax bill to be a percentage of this assessed value. The median home price in Seagraves is $190,144, and the tax rates are applied to this value to determine the final bill. For instance, homeowners in the 25th percentile can expect a tax bill around $1,163, while those in the 75th percentile might see bills closer to $3,470. At the 90th percentile, tax bills can reach up to $5,551. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, Seagraves offers a competitive tax environment, which can significantly impact the affordability and attractiveness of homeownership in the area.
Average Seagraves Tax Bill
$1,736
Average Terry County Tax Bill
$844
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Seagraves, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79359 | $929 | $1,163 | $1,736 | $3,470 | $5,551 |
Source: Ownwell