Winfield, Texas Property Taxes
The median property tax rate in Winfield, TX is 0.41%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Winfield at $44,461, the typical annual property tax bill is approximately $150, well below the national median of $2,690. Property taxes in Winfield are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Winfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Winfield or another part of Titus County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winfield, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$182
$169
Ownwell’s Winfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winfield 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 Winfield, Texas
Property taxes in Winfield, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winfield is 0.41%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Winfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winfield 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 Winfield's effective property tax rate to other counties in Texas and the national median. For comparison, the 75493 zip code has the highest median property tax rate of 0.41%, while the same 75493 zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Winfield 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 Winfield Tax Rate
0.41%
Average Titus County Tax Rate
0.41%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winfield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75493 | 0.23% | 0.31% | 0.41% | 0.46% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Winfield, Texas
In Winfield, 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 Winfield, 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. Being aware of these valuation processes in Winfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median tax bill in the 75493 zip code is $150, reflecting the local property values and tax rates.
Average Winfield Assessed Value
$44,461
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 Winfield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75493 | $7,396 | $14,823 | $44,461 | $111,424 | $175,959 |
Source: Ownwell
Property Tax Bills Across Winfield, Texas
In Winfield, located in Titus County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Winfield is $44,461. The property tax rate is applied to this assessed value to determine the annual tax bill. In this city, property tax bills vary significantly, reflecting different property values and exemptions. For example, the 25th percentile tax bill is $60, while the 75th percentile tax bill is $394, and the 90th percentile tax bill reaches $631. These variations indicate how different factors, such as property size, location, and any applicable exemptions, can influence the final tax amount. Homeowners in Winfield may find that their tax bills are lower compared to the national median property tax rate of 0.99%, providing some financial relief. However, understanding these factors is crucial for homeowners to anticipate their annual property tax obligations accurately.
Average Winfield Tax Bill
$150
Average Titus County Tax Bill
$573
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Winfield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75493 | $26 | $60 | $150 | $394 | $631 |
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 |