Boyd, Texas Property Taxes
The median property tax rate in Boyd, TX is 1.19%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Boyd at $281,668, the typical annual property tax bill reaches $2,979, surpassing the national median of $2,690. Property taxes in Boyd are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural land. Understanding Boyd'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 Boyd or another part of Wise County, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Boyd, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$3,352
$3,110
Ownwell’s Boyd Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boyd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boyd 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 Boyd, Texas
Property taxes in Boyd, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boyd is 1.19%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Boyd set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boyd 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 Boyd's effective property tax rate to other counties in Texas and the national median. For comparison, the 76023 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Boyd provides valuable insights into the varying tax landscape across Wise County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boyd Tax Rate
1.19%
Average Wise County Tax Rate
1.21%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boyd, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76023 | 0.55% | 0.86% | 1.19% | 1.26% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Boyd, Texas
In Boyd, 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 Wise 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. 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 Boyd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Boyd, the median home price is $281,668, with the 25th percentile tax bill at $1,496 and the 75th percentile tax bill at $4,684. The highest and lowest median tax bills both stand at $2,979, with the zip code 76023.
Average Boyd Assessed Value
$281,668
Average Wise County Assessed Value
$280,537
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boyd, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76023 | $72,021 | $153,077 | $281,668 | $461,275 | $646,667 |
Source: Ownwell
Property Tax Bills Across Boyd, Texas
In Boyd, located in Wise County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. For example, the median home price in Boyd is $281,668. The property tax rate in Wise County is applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Boyd can expect a wide range of tax bills. The 25th percentile tax bill is about $1,496, while the 75th percentile reaches up to $4,684. At the 90th percentile, homeowners may see tax bills as high as $6,523. These property taxes play a crucial role in funding local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Boyd's property taxes can be quite variable, reflecting the diverse property values within the area.
Average Boyd Tax Bill
$2,979
Average Wise County Tax Bill
$3,273
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Boyd, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76023 | $663 | $1,496 | $2,979 | $4,684 | $6,523 |
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 | |
|---|---|
| Wise Appraisal District | |
| Website | esearch.wise-cad.com |