Briscoe, Texas Property Taxes
The median property tax rate in Briscoe, 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 Briscoe at $65,250, the typical annual property tax bill is around $925, which is lower than the national median of $2,690. Property taxes in Briscoe are calculated based on the tax assessed value, often below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Briscoe'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 Briscoe or other parts of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Briscoe, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$1,096
$1,014
Ownwell’s Briscoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Briscoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Briscoe 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 Briscoe, Texas
Property taxes in Briscoe, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Briscoe is 1.68%, which is significantly higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Briscoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Briscoe 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 Briscoe's effective property tax rate to other counties in Texas and the national median. For comparison, the 79011 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 Briscoe provides valuable insights into the varying tax landscape across Briscoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Briscoe 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 Briscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79011 | 0.97% | 1.57% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Briscoe, Texas
In Briscoe, 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 Briscoe 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 Briscoe, 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 Briscoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $925.00 in zip code 79011, which is notably above the national median property tax rate of 0.99%.
Average Briscoe Assessed Value
$65,250
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 Briscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79011 | $8,292 | $33,690 | $65,250 | $122,470 | $173,288 |
Source: Ownwell
Property Tax Bills Across Briscoe, Texas
In Briscoe, located in Wheeler County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district and represents the market value of the property. Homeowners in Briscoe can expect a median home price of $65,250. The property tax rate in Briscoe is applied to this assessed value to determine the annual tax bill. For instance, at the 25th percentile, homeowners might pay around $463, while those at the 75th percentile could see bills as high as $2,012. The 90th percentile tax bills can reach up to $2,712. These property taxes fund essential local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, the specific rates in Briscoe can significantly impact homeowners, influencing both their annual budget and the overall affordability of living in the area.
Average Briscoe Tax Bill
$925
Average Wheeler County Tax Bill
$1,062
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Briscoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79011 | $154 | $463 | $925 | $2,012 | $2,712 |
Source: Ownwell