Village Mills, Texas Property Taxes
The median property tax rate in Village Mills, TX is 1.99%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Village Mills at $225,940, the typical annual property tax bill reaches $4,440, exceeding the national median of $2,690. Property taxes in Village Mills 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 Village Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Village Mills 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
Village Mills, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$4,496
$4,172
Ownwell’s Village Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Village Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Village Mills 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 Village Mills, Texas
Property taxes in Village Mills, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Village Mills is 1.99%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Village Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Village Mills 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 Village Mills' effective property tax rate to other counties in Texas and the national median. For comparison, the 77663 zip code has the highest median property tax rate of 1.99%, while the same zip code also has the lowest median tax rate of 1.99%. Understanding how these cities compare with Village Mills provides valuable insights into the varying tax landscape across Tyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Village Mills Tax Rate
1.99%
Average Tyler County Tax Rate
2.01%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Village Mills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77663 | 1.62% | 1.76% | 1.99% | 2.16% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Village Mills, Texas
In Village Mills, 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 Tyler 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 Village Mills, 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, the highest and lowest median tax bill in Village Mills is $4,440 in the 77663 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 Village Mills Assessed Value
$225,940
Average Tyler County Assessed Value
$69,123
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Village Mills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77663 | $121,601 | $162,040 | $225,940 | $329,456 | $442,468 |
Source: Ownwell
Property Tax Bills Across Village Mills, Texas
In Village Mills, located in Tyler County, TX, property tax bills are determined by multiplying the assessed value of a home by the local property tax rate. The assessed value is typically a percentage of the market value of the property. For example, if a home has a median market value of $225,940, this value is used as the basis for calculating the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Village Mills can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $3,137, while at the 75th percentile, they rise to approximately $6,066, and at the 90th percentile, they can reach up to $7,813. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Compared to the national median property tax rate of 0.99%, Village Mills' tax rates can result in relatively high tax bills, emphasizing the importance for homeowners to understand how their taxes are calculated and the potential financial implications.
Average Village Mills Tax Bill
$4,440
Average Tyler County Tax Bill
$1,323
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Village Mills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77663 | $2,325 | $3,137 | $4,440 | $6,066 | $7,813 |
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 | |
|---|---|
| Tyler Appraisal District | |
| Website | propaccess.trueautomation.com |