Raymondville, Texas Property Taxes
The median property tax rate in Raymondville, TX is 1.43%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $47,041 in Raymondville, the typical annual property tax bill amounts to $608, significantly below the national median of $2,690. Property taxes in Raymondville are determined based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Grasping the nuances of Raymondville's property tax system, leveraging available exemptions, and finding ways to reduce assessed values can result in substantial yearly savings. Whether you reside in the core of Raymondville or its outskirts, understanding the local property tax framework will benefit homeowners and real estate investors alike.
Last Updated June 14, 2024
Raymondville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$673
$623
Ownwell’s Raymondville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Raymondville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymondville to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your 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 Willacy County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Raymondville, Texas
Property taxes in Raymondville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymondville is 1.43%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Raymondville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymondville 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 Raymondville's effective property tax rate to other counties in Texas and the national median. For comparison, the 78569 zip code has the highest median property tax rate of 1.85%, while the 78580 zip code has the lowest median tax rate of 1.43%. Understanding how these cities compare with Raymondville provides valuable insights into the varying tax landscape across Willacy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymondville Tax Rate
1.43%
Average Willacy County Tax Rate
1.18%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymondville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78569 | 1.75% | 1.84% | 1.85% | 1.85% | 1.85% |
| 78580 | 0.83% | 1.01% | 1.43% | 1.50% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Raymondville, Texas
In Raymondville, 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 Willacy 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 Raymondville, 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. For instance, the zip code with the highest median tax bill is 78569 at $615, while the lowest is 78580 at $609. 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 Raymondville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raymondville Assessed Value
$47,041
Average Willacy County Assessed Value
$49,814
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raymondville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78569 | $2,350 | $6,730 | $33,250 | $33,250 | $33,250 |
| 78580 | $15,628 | $28,693 | $48,170 | $76,127 | $120,129 |
Source: Ownwell
Property Tax Bills Across Raymondville, Texas
In Raymondville, located in Willacy County, TX, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Raymondville face a median home price of $47,041. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the specific tax rate set by local authorities and any applicable exemptions or deductions. For instance, the tax bill for the 25th percentile is $364, while it rises to $942 for the 75th percentile and $1,355 for the 90th percentile. These figures show a range of tax burdens depending on the property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Raymondville residents experience a relatively varied tax burden, which can significantly impact homeowners' annual expenses. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Raymondville Tax Bill
$608
Average Willacy County Tax Bill
$574
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymondville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78569 | $42 | $122 | $615 | $615 | $615 |
| 78580 | $198 | $368 | $609 | $950 | $1,371 |
Source: Ownwell