Inez, Texas Property Taxes
The median property tax rate in Inez, TX is 0.54%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Inez at $259,315, the typical annual property tax bill reaches $1,389, well below the national median of $2,690. Property taxes in Inez 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 Inez'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 Inez or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Inez, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,400
$1,296
Ownwell’s Inez Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with an easy way to estimate their annual property taxes in Inez. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Inez to give you a clear picture of your potential property tax bill. This valuable tool helps you anticipate tax liabilities and make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Victoria County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Inez, Texas
Property taxes in Inez, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Inez is 0.54%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Inez set these rates annually, and they can vary significantly across different neighborhoods. Each year, Inez 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 Inez's effective property tax rate to other counties in Texas and the national median. For comparison, the 77968 zip code has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Inez provides valuable insights into the varying tax landscape across Victoria County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Inez Tax Rate
0.54%
Average Victoria County Tax Rate
1.42%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Inez, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77968 | 0.18% | 0.39% | 0.54% | 0.85% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Inez, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Inez, Texas. 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 Victoria 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. Assessment notices in Inez 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. In Inez, the zip code with the highest median tax bill is 77968, with a median tax bill of $1,389. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Inez Assessed Value
$259,315
Average Victoria County Assessed Value
$175,870
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Inez, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77968 | $39,410 | $108,640 | $259,315 | $419,786 | $567,877 |
Source: Ownwell
Property Tax Bills Across Inez, Texas
Property tax bills in Inez, situated in Victoria County, TX, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's appraisal district, which evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Inez, the property tax rate is a critical factor. With a median home price of $259,315, the tax bill can vary significantly. For example, at the 25th percentile, homeowners might pay around $497, while those in the 75th percentile could see bills as high as $2,659. At the 90th percentile, the tax bill can reach $4,900. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Inez's property tax rates can be seen as a reflection of the local government's funding needs and priorities.
Average Inez Tax Bill
$1,389
Average Victoria County Tax Bill
$2,280
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Inez, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77968 | $206 | $497 | $1,389 | $2,659 | $4,900 |
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 | |
|---|---|
| Victoria Appraisal District | |
| Website | propaccess.trueautomation.com |