Canadian, Texas Property Taxes
The median property tax rate in Canadian, TX is 1.68%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Canadian at $242,630, the typical annual property tax bill reaches $4,071, exceeding the national median of $2,690. Property taxes in Canadian 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 Canadian'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 Canadian 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
Canadian, 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 Canadian Property Tax Bill Calculator is an essential tool for any homeowner, real estate investor, or potential owner looking to estimate their annual property taxes in Canadian. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canadian to project your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular data, you can scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Canadian, Texas
Property taxes in Canadian, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canadian is 1.68%, which is notably higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Canadian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canadian 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 Canadian's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 79014 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 Canadian 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 Canadian 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 Canadian, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79014 | 1.68% | 1.68% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Canadian, Texas
In Canadian, 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 Canadian, 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 Canadian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Canadian is $242,630, with the highest and lowest median tax bills both recorded at $4,071 in the 79014 zip code.
Average Canadian Assessed Value
$242,630
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 Canadian, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79014 | $242,630 | $242,630 | $242,630 | $242,630 | $242,630 |
Source: Ownwell
Property Tax Bills Across Canadian, Texas
In Canadian, 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 reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Canadian, the median home price is $242,630, and property tax bills typically hover around $4,071, regardless of whether they fall in the 25th, 75th, or 90th percentile. This uniformity in tax bills suggests a consistent approach in the assessment and taxation process within the city. Compared to the national median property tax rate of 0.99%, the tax rate in Canadian results in a relatively higher tax bill for homeowners. This can impact homeowners by increasing their annual expenses, which is an important consideration for both current residents and potential buyers.
Average Canadian Tax Bill
$4,071
Average Wheeler County Tax Bill
$1,062
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Canadian, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79014 | $4,071 | $4,071 | $4,071 | $4,071 | $4,071 |
Source: Ownwell