Round Top, Texas Property Taxes
The median property tax rate in Round Top, TX is 1.36%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $54,700 in Round Top, the typical annual property tax bill is $743, significantly below the national median of $2,690. Property taxes in Round Top are calculated based on the tax assessed value, which often falls below market value due to exemptions such as those for primary residences and agricultural land. Understanding the property tax system in Round Top, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Round Top or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Round Top, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$744
$690
Ownwell’s Round Top Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Round Top with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Round Top 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 Round Top, Texas
Property taxes in Round Top, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Round Top is 1.36%, higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Round Top set these rates annually, and they can vary significantly across different neighborhoods. Each year, Round Top 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 Round Top's effective property tax rate to other counties in Texas and the national median. For comparison, the 78954 zip code has both the highest and lowest median property tax rate of 1.36%. Understanding how these cities compare with Round Top provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Round Top Tax Rate
1.36%
Average Washington County Tax Rate
1.19%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Round Top, Texas
In Round Top, 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 Washington 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 Round Top, 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 Round Top helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $54,700, with the highest and lowest median tax bills both at $743, found in the zip code 78954.
Average Round Top Assessed Value
$54,700
Average Washington County Assessed Value
$266,905
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | $54,700 | $54,700 | $54,700 | $54,700 | $54,700 |
Source: Ownwell
Property Tax Bills Across Round Top, Texas
In Round Top, Washington County, TX, property tax bills are calculated based on the assessed value of the home. The median home price in Round Top is $54,700. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, if the assessed value of a property is $54,700 and the local tax rate is 1.36%, the tax bill would be approximately $743. Factors influencing the tax bill include the assessed value of the home, local tax rates, and any applicable exemptions. Homeowners should be aware that these rates and values can fluctuate annually based on local government budgets and property market conditions. The tax bill directly impacts homeowners by contributing to the overall cost of owning a home. Higher property taxes can lead to increased monthly mortgage payments if taxes are escrowed, affecting long-term affordability. Comparing this to the national median property tax rate of 0.99%, Round Top's rates may be higher, reflecting local budgetary needs and property values.
Average Round Top Tax Bill
$743
Average Washington County Tax Bill
$2,988
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | $743 | $743 | $743 | $743 | $743 |
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 | |
|---|---|
| Washington Appraisal District | |
| Website | washingtoncad.org |