Richards, Texas Property Taxes
The median property tax rate in Richards, TX is 1.02%, 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 Richards at $330,680, the typical annual property tax bill reaches $2,296, which is below the national median of $2,690. Property taxes in Richards are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Richards' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Richards 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
Richards, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$3,373
$3,130
Ownwell’s Richards Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richards with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richards 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 Richards, Texas
Property taxes in Richards, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richards is 1.02%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Richards set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richards 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 Richards's effective property tax rate to other counties in Texas and the national median. For comparison, the 77873 zip code has the highest median property tax rate of 1.02%, while the same zip code has the lowest median tax rate of 1.02%. Understanding how these cities compare with Richards provides valuable insights into the varying tax landscape across Walker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richards Tax Rate
1.02%
Average Walker County Tax Rate
1.45%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richards, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77873 | 0.27% | 0.53% | 1.02% | 1.34% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Richards, Texas
In Richards, 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 Walker 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 Richards, 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 Richards helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Richards is $330,680, with the 25th percentile tax bill at $1,137 and the 75th percentile tax bill at $4,153. The highest and lowest median tax bills are both $2,296 in the 77873 zip code.
Average Richards Assessed Value
$330,680
Average Walker County Assessed Value
$180,510
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richards, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77873 | $72,470 | $173,760 | $330,680 | $525,510 | $807,570 |
Source: Ownwell
Property Tax Bills Across Richards, Texas
In Richards, Walker County, TX, property tax bills are calculated based on the assessed value of your home. This assessed value is determined by the local tax assessor and reflects the market value of your property. The property tax rate in Walker County is applied to this assessed value to determine your annual tax bill. For homeowners in Richards, the median home price is $330,680. Property tax bills can vary significantly, ranging from the 25th percentile at $1,137 to the 75th percentile at $4,153, and reaching up to $5,503 at the 90th percentile. These variations depend on the specific assessed values of individual properties and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Walker County's tax bills reflect the area's unique property values and tax rates. Homeowners in Richards must budget for these taxes, as they can significantly impact annual expenses. Understanding how these factors contribute to your property tax bill can help you plan and potentially seek appeals or exemptions to reduce your financial burden.
Average Richards Tax Bill
$2,296
Average Walker County Tax Bill
$2,299
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Richards, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77873 | $506 | $1,137 | $2,296 | $4,153 | $5,503 |
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 | |
|---|---|
| Walker Appraisal District | |
| Website | esearch.walkercad.org |