Iowa Park, Wichita County, Texas Property Taxes
The median property tax rate in Iowa Park, TX is 0.44%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $141,229 in Iowa Park, the typical annual property tax bill amounts to $627, well below the national median of $2,690. Property taxes in Iowa Park are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Iowa Park's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Iowa Park or another part of Wichita County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Iowa Park, Wichita County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$621
$577
Ownwell’s Iowa Park Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Iowa Park with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Iowa Park to provide an estimate of 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 Wichita County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Iowa Park, Wichita County, Texas
Property taxes in Iowa Park, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Iowa Park is 0.44%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Iowa Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Iowa Park 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 Iowa Park's effective property tax rate to other counties in Texas and the national median. For comparison, the 76367 zip code has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Iowa Park 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 Iowa Park Tax Rate
0.44%
Average Wichita County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iowa Park, Wichita County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76367 | 0.33% | 0.38% | 0.44% | 0.51% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Iowa Park, Wichita County, Texas
In Iowa Park, 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 Iowa Park, 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 Iowa Park is $141,229, with tax bills ranging from $372 at the 25th percentile to $1,468 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 76367, with a median tax bill of $627. Being aware of these valuation processes in Iowa Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Iowa Park, Wichita County, Texas
Source: Ownwell
$49,821
$132,122
$214,423
Average Iowa Park Assessed Value
$141,229
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 Iowa Park, Wichita County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76367 | $37,695 | $83,541 | $141,229 | $219,770 | $312,625 |
Source: Ownwell
Property Tax Bills Across Iowa Park, Wichita County, Texas
In IOWA PARK, Wichita County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $141,229. Homeowners can expect their property tax bill to vary significantly. For instance, the 25th percentile tax bill is $372, while the 75th percentile reaches $980, and the 90th percentile soars to $1,468. These tax bills are determined by multiplying the assessed value of the property by the local tax rate. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value, thereby impacting the final tax bill. Compared to the national median property tax rate of 0.99%, Wichita County's rates offer a varied landscape for homeowners. Understanding these variations is crucial for homeowners to budget effectively and anticipate changes in their annual tax obligations. This financial planning is essential for maintaining stability and ensuring that homeowners are not caught off guard by unexpected tax increases.
Average Iowa Park Tax Bill
$627
Average Wichita County Tax Bill
$2,023
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Iowa Park, Wichita County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76367 | $168 | $372 | $627 | $980 | $1,468 |
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 |