Wheeler, Texas Property Taxes
The median property tax rate in Wheeler, TX is 2.46%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wheeler, the typical annual property tax bill reaches $1,357, which, while below the national median of $2,690, is still a significant expense for homeowners. Property taxes in Wheeler 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 Wheeler'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 Wheeler 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
Wheeler, 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 Wheeler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheeler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheeler 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 Wheeler, Texas
Property taxes in Wheeler, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheeler is 2.46%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wheeler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheeler 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 Wheeler's effective property tax rate to other counties in Texas and the national median. For comparison, the 79096 zip code has the highest median property tax rate of 2.46%, while the same zip code also has the lowest median tax rate of 2.46%. Understanding how these cities compare with Wheeler 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 Wheeler Tax Rate
2.46%
Average Wheeler County Tax Rate
2.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheeler, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79096 | 1.78% | 1.99% | 2.46% | 2.46% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Wheeler, Texas
In Wheeler, 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 Wheeler, 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. For instance, the median home price in Wheeler is $60,530, with tax bills ranging from $688 at the 25th percentile to $4,136 at the 90th percentile. The zip code 79096 has the highest and lowest median tax bill of $1,357. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wheeler Assessed Value
$60,530
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 Wheeler, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79096 | $12,872 | $30,168 | $60,530 | $124,510 | $195,601 |
Source: Ownwell
Property Tax Bills Across Wheeler, Texas
In Wheeler, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's appraisal district, which evaluates the market value of homes. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $60,530, homeowners can expect varying tax bills. Factors influencing the tax bill include property location, home improvements, and market conditions. In Wheeler, the tax bill at the 25th percentile is $688, while at the 75th percentile, it rises to $2,732, and at the 90th percentile, it reaches $4,136. These figures illustrate the range of tax obligations residents might face. Compared to the national median property tax rate of 0.99%, Wheeler’s property tax rate can significantly impact homeowners, particularly those with higher-valued properties. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Wheeler Tax Bill
$1,357
Average Wheeler County Tax Bill
$1,062
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheeler, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79096 | $301 | $688 | $1,357 | $2,732 | $4,136 |
Source: Ownwell