Talco, Texas Property Taxes
The median property tax rate in Talco, TX is 0.39%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Talco at $74,850, the typical annual property tax bill is $221, well below the national median of $2,690. Property taxes in Talco are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Talco's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Talco or another part of Titus County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Talco, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$292
$271
Ownwell’s Talco Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Talco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Talco to give you an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. 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 Titus County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Talco, Texas
Property taxes in Talco, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Talco is 0.39%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Talco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Talco 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 Talco's effective property tax rate to other counties in Texas and the national median. For comparison, the highest median property tax rate in Texas is found in the zip code with a rate of 2.18%, while the lowest median tax rate is 0.61%. Understanding how these cities compare with Talco provides valuable insights into the varying tax landscape across Titus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Talco Tax Rate
0.39%
Average Titus County Tax Rate
0.41%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Talco, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75487 | 0.15% | 0.27% | 0.39% | 0.47% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Talco, Texas
In Talco, 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 Titus 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 Talco, 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 instance, the median home price in Talco is $74,850, with tax bills ranging from $61 at the 25th percentile to $754 at the 90th percentile. The highest and lowest median tax bills are both $221, found in zip code 75487. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Talco Assessed Value
$74,850
Average Titus County Assessed Value
$154,720
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Talco, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75487 | $8,244 | $20,204 | $74,850 | $136,094 | $205,960 |
Source: Ownwell
Property Tax Bills Across Talco, Texas
In Talco, Texas, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the Titus County Appraisal District and reflects the market value of the property. Once the assessed value is established, local tax rates are applied to calculate the tax bill. For example, with a median home price of $74,850, homeowners can expect varying tax bills depending on their specific assessed value and applicable exemptions. Several factors influence the final tax bill, including property location, local tax rates, and any qualifying exemptions. In Talco, the tax bill at the 25th percentile is $61, while at the 75th percentile, it rises to $475, and at the 90th percentile, it can reach up to $754. Compared to the national median property tax rate of 0.99%, Talco's tax rates can significantly impact homeowners' finances. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their budgets accordingly.
Average Talco Tax Bill
$221
Average Titus County Tax Bill
$573
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Talco, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75487 | $26 | $61 | $221 | $475 | $754 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Titus Appraisal District | |
| Website | esearch.titus-cad.org |