Miles, Texas Property Taxes
The median property tax rate in MILES, TX is 0.64%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in MILES, the typical annual property tax bill reaches $1,552, significantly below the national median of $2,690. Property taxes in MILES are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding MILES's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of MILES 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
Miles, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,593
$1,478
Ownwell’s MILES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MILES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MILES 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 Miles, Texas
Property taxes in MILES, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MILES is 0.64%, lower than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within MILES set these rates annually, and they can vary significantly across different neighborhoods. Each year, MILES 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 MILES's effective property tax rate to other counties in Texas and the national median. For comparison, the 76861 zip code has the highest median property tax rate of 0.64%, while the 76861 zip code has the lowest median tax rate of 0.64%. Understanding how these cities compare with MILES provides valuable insights into the varying tax landscape across Tom Green, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Miles Tax Rate
0.64%
Average Tom Green County Tax Rate
1.11%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miles, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76861 | 0.17% | 0.29% | 0.64% | 1.08% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Miles, Texas
In MILES, 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 Tom Green 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 MILES, 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. The median home price in MILES is $248,935. The tax bills vary significantly, with the 25th percentile at $671, the 75th percentile at $3,155, and the 90th percentile reaching $4,532. The zip code with the highest median tax bill is 76861, where the median tax bill is $1,552. Being aware of these valuation processes in MILES helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Miles Assessed Value
$248,935
Average Tom Green County Assessed Value
$186,425
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miles, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76861 | $79,308 | $165,575 | $248,935 | $382,360 | $576,920 |
Source: Ownwell
Property Tax Bills Across Miles, Texas
In MILES, located in Tom Green County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. The median home price in the area is $248,935. Property tax rates are applied to this assessed value, and various factors such as local tax rates and any applicable exemptions are considered. For instance, the tax bill at the 25th percentile is $671, while at the 75th percentile, it rises to $3,155. The 90th percentile sees tax bills as high as $4,532. These property tax bills significantly impact homeowners, influencing monthly mortgage payments and overall housing affordability. The highest median tax bill in Tom Green County is $1,552, which is relatively moderate compared to the national median property tax rate of 0.99%. Understanding these calculations helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are prepared for their annual property tax responsibilities.
Average Miles Tax Bill
$1,552
Average Tom Green County Tax Bill
$1,970
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Miles, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76861 | $255 | $671 | $1,552 | $3,155 | $4,532 |
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 | |
|---|---|
| Tom Green Appraisal District | |
| Website | iswdataclient.azurewebsites.net |