Wink, Texas Property Taxes
The median property tax rate in Wink, TX is 0.53%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wink, the typical annual property tax bill reaches $228, significantly below the national median of $2,690. Property taxes in Wink 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 Wink'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 Wink 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
Wink, 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 Wink Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wink with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wink 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 Wink, Texas
Property taxes in Wink, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wink is 0.53%, which is lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Wink set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wink 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 Wink's effective property tax rate to other counties in Texas and the national median. For comparison, the 79789 zip code has the highest median property tax rate of 0.53%, while the 79789 zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Wink provides valuable insights into the varying tax landscape across Winkler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wink Tax Rate
0.53%
Average Winkler County Tax Rate
1.22%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wink, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79789 | 0.13% | 0.33% | 0.53% | 0.77% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Wink, Texas
In Wink, 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 Winkler 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 Wink, 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 Wink helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Wink is $47,710, with tax bills ranging from $53 at the 25th percentile to $724 at the 90th percentile. Interestingly, the highest and lowest median tax bills, both at $228, are found in the 79789 zip code.
Average Wink Assessed Value
$47,710
Average Winkler County Assessed Value
$51,215
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wink, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79789 | $4,266 | $11,495 | $47,710 | $95,975 | $146,134 |
Source: Ownwell
Property Tax Bills Across Wink, Texas
In Wink, located in Winkler County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the Winkler County Appraisal District. The median home price in Wink is $47,710. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and condition can influence the assessed value, impacting the final tax amount. The median property tax rate in Wink is relatively low compared to the national median of 0.99%. Homeowners in Wink can expect tax bills to vary significantly, with the 25th percentile at $53 and the 75th percentile at $434. The 90th percentile tax bill can reach up to $724, indicating that some properties are valued higher or subject to different tax considerations. The highest median tax bill recorded in Wink is $228 in the zip code 79789. These property taxes contribute to local services and infrastructure, affecting the overall cost of homeownership in Wink.
Average Wink Tax Bill
$228
Average Winkler County Tax Bill
$557
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wink, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79789 | $9 | $53 | $228 | $434 | $724 |
Source: Ownwell