Wills Point, Texas Property Taxes
The median property tax rate in Wills Point, TX is 1.03%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Wills Point at $162,010, the typical annual property tax bill is $1,229, which is significantly below the national median of $2,690. Property taxes in Wills Point are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Wills Point'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 Wills Point 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
Wills Point, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,669
$1,549
$1,148
Average Tax Savings
Ownwell’s Wills Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wills Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wills Point 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 Wills Point. 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 Wills Point, Texas
Property taxes in Wills Point, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wills Point is 1.03%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wills Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wills Point 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 Wills Point's effective property tax rate to other counties in Texas and the national median. For comparison, the 75169 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Wills Point provides valuable insights into the varying tax landscape across Van Zandt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wills Point Tax Rate
1.03%
Average Van Zandt County Tax Rate
0.90%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wills Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75169 | 0.18% | 0.42% | 1.03% | 1.24% | 1.86% |
Source: Ownwell
$1,148
Average Wills Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Wills Point, Texas
In Wills Point, 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 Van Zandt 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 Wills Point, 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. The median home price in Wills Point is $162,010, with tax bills ranging from $441 at the 25th percentile to $4,248 at the 90th percentile. The highest and lowest median tax bills are both $1,229, found in the 75169 zip code. 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 Wills Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wills Point Assessed Value
$162,010
Average Van Zandt County Assessed Value
$183,735
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wills Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75169 | $36,180 | $83,005 | $162,010 | $289,220 | $447,130 |
Source: Ownwell
$1,148
Average Wills Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Wills Point, Texas
In Wills Point, Van Zandt County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. For instance, with a median home price of $162,010, homeowners can expect varying tax bills. Factors such as property size, location, and improvements can influence the assessed value. The tax bill for the 25th percentile is around $441, while the 75th percentile reaches approximately $2,508. The 90th percentile can see tax bills as high as $4,248. These taxes can significantly impact homeowners, making it essential to ensure accurate assessments. Ownwell offers property tax appeal and exemption services to help homeowners in Wills Point reduce their tax burden. By reviewing property assessments and identifying potential errors or opportunities for exemptions, Ownwell can help secure a fairer tax bill. This can lead to substantial savings, making homeownership more affordable and less stressful.
Average Wills Point Tax Bill
$1,229
Average Van Zandt County Tax Bill
$1,296
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wills Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75169 | $178 | $441 | $1,229 | $2,508 | $4,248 |
Source: Ownwell
$1,148
Average Wills Point 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 | |
|---|---|
| Van Zandt Appraisal District | |
| Website | esearch.vzcad.org |
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