Allison, Texas Property Taxes
The median property tax rate in Allison, TX, is 1.68%, slightly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Allison, the typical annual property tax bill reaches $873, which is significantly lower than the national median of $2,690. Property taxes in Allison 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 Allison'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 Allison 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
Allison, 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 Allison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allison 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 Allison, Texas
Property taxes in Allison, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allison is 1.68%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Allison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allison 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 Allison's effective property tax rate to other counties in Texas and the national median. For comparison, the 79003 zip code has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Allison provides valuable insights into the varying tax landscape across Wheeler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allison Tax Rate
1.68%
Average Wheeler County Tax Rate
2.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allison, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79003 | 1.63% | 1.68% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Allison, Texas
In Allison, 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 Wheeler 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 Allison, 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. For example, the median home price in Allison stands at $52,780, with tax bills ranging from $447 at the 25th percentile to $2,229 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 79003, at $873. 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 Allison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Allison Assessed Value
$52,780
Average Wheeler County Assessed Value
$49,600
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allison, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79003 | $16,330 | $26,638 | $52,780 | $86,490 | $132,850 |
Source: Ownwell
Property Tax Bills Across Allison, Texas
Property tax bills in Allison, located in Wheeler County, TX, are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, which in Allison has a median home price of $52,780. Tax authorities multiply this assessed value by the tax rate to calculate the annual tax bill. Factors such as property size, location, and any applicable exemptions also play a role in the final amount. For homeowners in Allison, property tax bills can vary widely. For example, the 25th percentile tax bill is around $447, while the 75th percentile tax bill is approximately $1,445. At the 90th percentile, homeowners may pay up to $2,229 annually. These variations can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly.
Average Allison Tax Bill
$873
Average Wheeler County Tax Bill
$1,062
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Allison, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79003 | $274 | $447 | $873 | $1,445 | $2,229 |
Source: Ownwell