Throckmorton County, Texas Property Taxes
The median property tax rate in Throckmorton County is 2.65%, which is significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Throckmorton County, the typical annual property tax bill reaches $1,022, which is lower than the national median of $2,690. Property taxes in Throckmorton County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Throckmorton County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Throckmorton or another part of Throckmorton County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Throckmorton County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$1,118
$1,038
Ownwell’s Throckmorton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Throckmorton with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Throckmorton to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Throckmorton County, Texas
Property taxes in Throckmorton County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Throckmorton County is 2.65%, which is higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Throckmorton County set these rates annually, and they can vary significantly between different areas within the county. Each year, Throckmorton County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Throckmorton County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Throckmorton has one of the higher property tax rates in Texas at 2.79%, while the city of Newcastle boasts one of the lowest at 0.87%. Analyzing how Throckmorton County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Throckmorton County Tax Rate
2.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Throckmorton County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elbert | 1.79% | 1.88% | 1.99% | 2.01% | 2.04% |
| Goree | N/A | N/A | N/A | N/A | N/A |
| Newcastle | N/A | N/A | N/A | N/A | N/A |
| Olney | N/A | N/A | N/A | N/A | N/A |
| Throckmorton | 1.94% | 2.63% | 2.79% | 2.79% | 2.79% |
| Woodson | 1.47% | 1.70% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Throckmorton County, Texas
In Throckmorton County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Throckmorton County Appraisal District. The assessed value, however, 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. Assessment notices in Throckmorton County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Goree has the highest median tax bill at $2,484, while Newcastle has the lowest at $386. Being aware of these valuation processes in Throckmorton County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Throckmorton County, Texas
Source: Ownwell
$38,550
$57,190
$75,830
Average Throckmorton County Assessed Value
$42,190
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Throckmorton County, Texas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elbert | $34,588 | $47,130 | $75,830 | $106,790 | $134,614 |
| Goree | N/A | N/A | N/A | N/A | N/A |
| Newcastle | N/A | N/A | N/A | N/A | N/A |
| Olney | N/A | N/A | N/A | N/A | N/A |
| Throckmorton | $6,990 | $20,170 | $42,445 | $79,372 | $131,665 |
| Woodson | $9,088 | $19,625 | $38,550 | $66,900 | $105,966 |
Source: Ownwell
Property Tax Bills Across Throckmorton County, Texas
In Throckmorton County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this county is $42,190. Homeowners in Throckmorton can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $485, while at the 75th percentile, it rises to $1,719. At the 90th percentile, homeowners might see a tax bill as high as $2,865. Several factors influence these amounts, including the assessed value of the property and the specific tax rates set by local taxing authorities. These rates can differ based on the services provided by the county, such as schools, infrastructure, and emergency services. Comparatively, the highest median tax bill within the county is in Goree at $2,484, whereas the lowest is in Newcastle at $386. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Throckmorton County Tax Bill
$1,022
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Throckmorton County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elbert | $702 | $915 | $1,429 | $2,150 | $2,452 |
| Goree | N/A | N/A | N/A | N/A | N/A |
| Newcastle | N/A | N/A | N/A | N/A | N/A |
| Olney | N/A | N/A | N/A | N/A | N/A |
| Throckmorton | $172 | $530 | $1,093 | $1,955 | $3,171 |
| Woodson | $180 | $385 | $797 | $1,241 | $1,707 |
Source: Ownwell