Spicewood, Texas Property Taxes
The median property tax rate in Spicewood, TX is 1.03%, slightly higher than the national median of 0.99% but lower than Texas's state median of 1.67%. With the median home value in Spicewood at $719,002, the typical annual property tax bill amounts to $7,672, significantly surpassing the national median of $2,690. Property taxes in Spicewood are determined based on the tax assessed value, which is usually lower than the market value due to exemptions such as those for primary residences and agricultural use. Understanding Spicewood'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 Spicewood or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spicewood, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$7,406
$6,872
$1,148
Average Tax Savings
Ownwell’s Spicewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spicewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spicewood 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 Spicewood. 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 Travis County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Spicewood, Texas
Property taxes in Spicewood, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spicewood is 1.03%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Spicewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spicewood 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 Spicewood's effective property tax rate to other counties in Texas and the national median. For comparison, the 78669 zip code has the highest median property tax rate of 1.03%, while the 78669 zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Spicewood provides valuable insights into the varying tax landscape across Travis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spicewood Tax Rate
1.03%
Average Travis County Tax Rate
1.31%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spicewood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78669 | 0.45% | 0.72% | 1.03% | 1.64% | 1.90% |
Source: Ownwell
$1,148
Average Spicewood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Spicewood, Texas
In Spicewood, 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 Spicewood, 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 Spicewood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Spicewood both stand at $7,672 in the 78669 zip code, with tax bills ranging from $3,910 at the 25th percentile to $21,283 at the 90th percentile.
Average Spicewood Assessed Value
$719,002
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 Spicewood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78669 | $126,994 | $432,175 | $719,002 | $1,128,006 | $1,803,693 |
Source: Ownwell
$1,148
Average Spicewood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Spicewood, Texas
In Spicewood, located in Travis County, TX, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local appraisal district and reflects the market value of the property. Factors such as the home's size, location, and condition influence this assessment, which directly impacts the tax bill. For homeowners in Spicewood, the median home price is $719,002, leading to varying tax bills. For instance, the 25th percentile tax bill is $3,910, while the 75th percentile reaches $12,725, and the 90th percentile can be as high as $21,283. These property taxes can be a significant burden on homeowners, but Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially lower their assessed values, resulting in reduced tax bills. With local knowledge and a proven track record, Ownwell ensures homeowners in Spicewood can achieve substantial savings on their property taxes.
Average Spicewood Tax Bill
$7,672
Average Travis County Tax Bill
$7,669
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Spicewood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78669 | $1,432 | $3,910 | $7,672 | $12,725 | $21,283 |
Source: Ownwell
$1,148
Average Spicewood 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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