Wickett, Texas Property Taxes
The median property tax rate in Wickett, TX is 1.78%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wickett, the typical annual property tax bill reaches $590, which is significantly lower than the national median of $2,690. Property taxes in Wickett 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 Wickett'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 Wickett 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
Wickett, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Wickett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wickett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wickett 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 Wickett, Texas
Property taxes in Wickett, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wickett is 1.78%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wickett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wickett 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 Wickett's effective property tax rate to other counties in Texas and the national median. For comparison, the 79788 zip code has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Wickett provides valuable insights into the varying tax landscape across Ward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wickett Tax Rate
1.78%
Average Ward County Tax Rate
1.64%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wickett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79788 | 0.71% | 1.10% | 1.78% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Wickett, Texas
In Wickett, 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 Ward 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 Wickett, 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. The median home price in Wickett is $48,470, with tax bills ranging from $286 at the 25th percentile to $1,642 at the 90th percentile. The zip code with the highest and lowest median tax bill is 79788, both at $590. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wickett Assessed Value
$48,470
Average Ward County Assessed Value
$84,385
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wickett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79788 | $7,710 | $21,130 | $48,470 | $87,610 | $133,280 |
Source: Ownwell
Property Tax Bills Across Wickett, Texas
In Wickett, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Wickett is $48,470. To calculate the property tax bill, the assessed value is multiplied by the local tax rate. For context, the national median property tax rate is 0.99%. In Wickett, the tax bill can vary significantly, with the 25th percentile at $286 and the 75th percentile reaching $1,027. Homeowners in the 90th percentile might see tax bills as high as $1,642. Several factors influence the final tax bill, including property location, improvements, and market conditions. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding how property tax bills are calculated helps homeowners plan their finances and anticipate annual expenses.
Average Wickett Tax Bill
$590
Average Ward County Tax Bill
$1,092
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wickett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79788 | $134 | $286 | $590 | $1,027 | $1,642 |
Source: Ownwell