Driftwood, Texas Property Taxes
The median property tax rate in Driftwood, TX is 2.23%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $196,610 in Driftwood, the typical annual property tax bill reaches $4,571, far exceeding the national median of $2,690. Property taxes in Driftwood are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Driftwood'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 Driftwood or another part of Travis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Driftwood, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$4,384
$4,069
$1,148
Average Tax Savings
Ownwell’s Driftwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Driftwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Driftwood to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Driftwood. 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 Driftwood, Texas
Property taxes in Driftwood, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Driftwood is 2.23%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Driftwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Driftwood 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 Driftwood's effective property tax rate to other counties in Texas and the national median. For comparison, the 78619 zip code has the highest median property tax rate of 2.23%, while the same zip code also has the lowest median tax rate of 2.23%. Understanding how these cities compare with Driftwood provides valuable insights into the varying tax landscape across Hays County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Driftwood Tax Rate
2.23%
Average Travis County Tax Rate
1.31%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Driftwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78619 | 2.15% | 2.18% | 2.23% | 2.25% | 2.26% |
Source: Ownwell
$1,148
Average Driftwood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Driftwood, Texas
In Driftwood, 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 Travis 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 Driftwood, 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, in Driftwood, the median home price is $196,610, with property tax bills ranging significantly. The highest median tax bill, recorded at $4,571, is found in the 78619 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 Driftwood Assessed Value
$196,610
Average Travis County Assessed Value
$537,591
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Driftwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78619 | $164,588 | $187,953 | $196,610 | $204,241 | $396,303 |
Source: Ownwell
$1,148
Average Driftwood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Driftwood, Texas
In Driftwood, located in Travis 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 Driftwood is $196,610, which forms the basis for the tax assessment. Local authorities then apply the tax rate to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Driftwood can expect tax bills ranging from $3,900 at the 25th percentile to $10,929 at the 90th percentile, with the highest median tax bill recorded at $4,571 in the 78619 zip code. Ownwell can help homeowners in Driftwood save on their property tax bills by providing expert property tax appeal and exemption services. By reviewing the assessed value and identifying potential inaccuracies or overlooked exemptions, Ownwell ensures homeowners are not overpaying. This professional assistance can lead to significant reductions in property tax bills, offering financial relief and peace of mind.
Average Driftwood Tax Bill
$4,571
Average Travis County Tax Bill
$7,669
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Driftwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78619 | $3,497 | $3,900 | $4,571 | $8,545 | $10,929 |
Source: Ownwell
$1,148
Average Driftwood Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Travis Appraisal District | |
| Phone | (512) 834-9317 |
| Website | stage.travis.prodigycad.com |
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