Hockley, Texas Property Taxes
The median property tax rate in Hockley, TX is 1.63%, which is considerably higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With the median home value in Hockley at $298,860, the typical annual property tax bill reaches $4,354, exceeding the national median of $2,690. Property taxes in Hockley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hockley'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 Hockley 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
Hockley, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$4,871
$4,521
$1,148
Average Tax Savings
Ownwell’s Hockley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hockley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hockley 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 Hockley. 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 Hockley, Texas
Property taxes in Hockley, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hockley is 1.63%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Hockley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hockley 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 Hockley's effective property tax rate to other counties in Texas and the national median. For comparison, the 77447 zip code has the highest median property tax rate of 1.63%, while the 77447 zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Hockley provides valuable insights into the varying tax landscape across Waller County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hockley Tax Rate
1.63%
Average Waller County Tax Rate
1.72%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hockley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77447 | 0.98% | 1.37% | 1.63% | 1.72% | 1.72% |
Source: Ownwell
$1,148
Average Hockley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hockley, Texas
In Hockley, 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 Waller 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 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 median home price in Hockley is $298,860, with tax bills ranging significantly. The 25th percentile tax bill is $2,044, while the 75th percentile tax bill reaches $6,555. The zip code with the highest and lowest median tax bill is 77447, both at $4,354. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hockley Assessed Value
$298,860
Average Waller County Assessed Value
$273,670
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hockley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77447 | $70,748 | $147,050 | $298,860 | $441,672 | $843,736 |
Source: Ownwell
$1,148
Average Hockley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hockley, Texas
In Hockley, TX, property tax bills are calculated based on the assessed value of a home. The local taxing authorities determine this value, which is then multiplied by the local tax rate. For instance, with a median home price of $298,860, homeowners can expect varying tax bills depending on their property's assessed value. The 25th percentile tax bill is around $2,044, while the 75th percentile reaches $6,555, and the 90th percentile can be as high as $10,736. These taxes significantly impact homeowners, especially when the tax bill reaches the higher percentiles. Ownwell can assist homeowners by providing expert property tax appeal and exemption services. By analyzing your property’s assessed value and comparing it with market trends, Ownwell can identify discrepancies and file appeals on your behalf. This process can potentially lower your tax bill, providing substantial savings and financial relief. Trust Ownwell to help you navigate the complexities of property tax assessments and reduce your financial burden.
Average Hockley Tax Bill
$4,354
Average Waller County Tax Bill
$4,531
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Hockley, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77447 | $1,014 | $2,044 | $4,354 | $6,555 | $10,736 |
Source: Ownwell
$1,148
Average Hockley 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 | |
|---|---|
| Waller Appraisal District | |
| Website | esearch.waller-cad.org |
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