Wichita Falls, Texas Property Taxes
The median property tax rate in Wichita Falls, TX is 1.90%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wichita Falls at $138,053, the typical annual property tax bill reaches $2,342, which is slightly below the national median of $2,690. Property taxes in Wichita Falls 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 Wichita Falls'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 Wichita Falls 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
Wichita Falls, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$2,623
$2,434
Ownwell’s Wichita Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wichita Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wichita Falls 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 Wichita Falls, Texas
Property taxes in Wichita Falls, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wichita Falls is 1.90%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wichita Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wichita Falls 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 Wichita Falls' effective property tax rate to other counties in Texas and the national median. For comparison, the 76301 zip code has the highest median property tax rate of 2.21%, while the 76305 zip code has the lowest median tax rate of 1.15%. Understanding how these cities compare with Wichita Falls 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 Wichita Falls Tax Rate
1.90%
Average Wichita County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wichita Falls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76301 | 0.73% | 1.23% | 2.21% | 2.42% | 2.48% |
| 76302 | 1.06% | 1.39% | 1.79% | 2.32% | 2.44% |
| 76305 | 0.35% | 0.49% | 1.15% | 1.64% | 1.99% |
| 76306 | 0.77% | 1.20% | 1.89% | 2.35% | 2.44% |
| 76308 | 1.22% | 1.55% | 1.93% | 2.30% | 2.41% |
| 76309 | 0.96% | 1.40% | 2.02% | 2.35% | 2.46% |
| 76310 | 1.18% | 1.48% | 1.84% | 2.27% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Wichita Falls, Texas
In Wichita Falls, 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. 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. The median home price in Wichita Falls is $138,053, with tax bills varying significantly across different areas. For instance, the highest median tax bill is $3,823 in the 76310 zip code, while the lowest is $1,012 in the 76301 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wichita Falls Assessed Value
$138,053
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 Wichita Falls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76301 | $14,097 | $30,354 | $61,895 | $92,538 | $137,681 |
| 76302 | $56,092 | $112,220 | $167,955 | $217,506 | $265,034 |
| 76305 | $24,315 | $54,997 | $127,090 | $244,031 | $338,918 |
| 76306 | $24,091 | $58,322 | $110,174 | $168,025 | $212,652 |
| 76308 | $91,538 | $120,716 | $187,885 | $294,488 | $420,477 |
| 76309 | $36,959 | $62,000 | $100,181 | $217,899 | $318,639 |
| 76310 | $123,446 | $157,759 | $214,423 | $291,874 | $383,894 |
Source: Ownwell
Property Tax Bills Across Wichita Falls, Texas
In Wichita Falls, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home's location, size, and condition all play a role in the assessment process. For instance, the median home price in Wichita Falls is $138,053. Property tax bills can vary significantly, with the 25th percentile at $1,151 and the 75th percentile reaching $4,019. The 90th percentile tax bill can be as high as $6,084, indicating a wide range of property values and tax burdens within the area. Homeowners in the 76310 zip code experience the highest median tax bill at $3,823, while those in the 76301 zip code see the lowest at $1,012. These property taxes fund essential local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners.
Average Wichita Falls Tax Bill
$2,342
Average Wichita County Tax Bill
$2,023
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wichita Falls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76301 | $207 | $462 | $1,012 | $1,766 | $2,667 |
| 76302 | $877 | $1,774 | $2,884 | $4,001 | $5,250 |
| 76305 | $170 | $459 | $1,103 | $2,501 | $4,545 |
| 76306 | $348 | $834 | $1,843 | $2,985 | $4,191 |
| 76308 | $1,442 | $2,187 | $3,298 | $5,391 | $8,435 |
| 76309 | $501 | $996 | $1,840 | $3,736 | $6,004 |
| 76310 | $1,728 | $2,643 | $3,823 | $5,477 | $7,695 |
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 |