Burkburnett, Texas Property Taxes
The median property tax rate in Burkburnett, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Burkburnett at $131,938, the typical annual property tax bill reaches $2,244, which is below the national median of $2,690. Property taxes in Burkburnett 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 Burkburnett'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 Burkburnett or another part of Wichita County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burkburnett, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$2,441
$2,265
Ownwell’s Burkburnett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burkburnett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burkburnett 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 Burkburnett, Texas
Property taxes in Burkburnett, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burkburnett is 1.85%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Burkburnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burkburnett 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 Burkburnett's effective property tax rate to other counties in Texas and the national median. For comparison, the 76354 zip code has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these cities compare with Burkburnett provides valuable insights into the varying tax landscape across Wichita County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burkburnett Tax Rate
1.85%
Average Wichita County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burkburnett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76354 | 0.97% | 1.38% | 1.85% | 2.34% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Burkburnett, Texas
In Burkburnett, 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 Wichita 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 Burkburnett, 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 Burkburnett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Burkburnett is $2,244 in the 76354 zip code, which is also the lowest median tax bill.
Average Burkburnett Assessed Value
$131,938
Average Wichita County Assessed Value
$132,128
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burkburnett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76354 | $21,345 | $65,779 | $131,938 | $213,214 | $286,499 |
Source: Ownwell
Property Tax Bills Across Burkburnett, Texas
In Burkburnett, Wichita County, TX, property tax bills are determined based on the assessed value of a property, which is derived from the market value. The local tax rate is then applied to this assessed value. For example, with a median home price of $131,938, homeowners can expect varying tax bills depending on specific valuations and exemptions. The tax bill can range significantly. At the 25th percentile, homeowners might see a bill around $1,074, while those at the 75th percentile could face a bill as high as $3,707. The 90th percentile sees even steeper bills, reaching up to $5,365. The highest median tax bill recorded in the area is $2,244, with the same value being the lowest median tax bill, suggesting a uniform tax rate application across different properties within the same zip code, 76354. These taxes are crucial as they fund local services like schools, public safety, and infrastructure. Homeowners in Burkburnett must account for these costs in their annual budgets, as they can significantly impact overall living expenses.
Average Burkburnett Tax Bill
$2,244
Average Wichita County Tax Bill
$2,023
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Burkburnett, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76354 | $383 | $1,074 | $2,244 | $3,707 | $5,365 |
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 | |
|---|---|
| Wichita Appraisal District | |
| Website | esearch.wadtx.com |