Bridgeport, Texas Property Taxes
The median property tax rate in Bridgeport, TX is 1.37%, notably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Bridgeport at $222,485, the typical annual property tax bill reaches $3,121, surpassing the national median of $2,690. Property taxes in Bridgeport 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 Bridgeport'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 Bridgeport 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
Bridgeport, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$3,048
$2,829
Ownwell’s Bridgeport Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Bridgeport with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Bridgeport to project your property tax bill. This valuable resource helps you understand potential tax liabilities, ensuring you’re well-prepared for any financial obligations. If you’re curious about trends on a neighborhood level, scroll down to discover more localized information. Your property’s assessed value, determined by Wise County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Bridgeport, Texas
Property taxes in Bridgeport, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgeport is 1.37%, higher than both the Texas state median of 1.6% and the U.S. national median of 0.99%. Local government entities within Bridgeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgeport 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 Bridgeport's effective property tax rate to other counties in Texas and the national median. For comparison, the 76426 zip code has the highest median property tax rate of 1.37%, while the 76426 zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Bridgeport 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 Bridgeport Tax Rate
1.37%
Average Wise County Tax Rate
1.21%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgeport, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76426 | 0.82% | 1.17% | 1.37% | 1.82% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Bridgeport, Texas
In Bridgeport, 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. In Bridgeport, 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 median home price in Bridgeport is $222,485, with tax bills ranging from $1,552 at the 25th percentile to $6,934 at the 90th percentile. 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 Bridgeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bridgeport Assessed Value
$222,485
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 Bridgeport, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76426 | $44,048 | $121,136 | $222,485 | $352,372 | $536,591 |
Source: Ownwell
Property Tax Bills Across Bridgeport, Texas
In Bridgeport, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the Wise County appraisal district. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Bridgeport, the median home price is $222,485. Property tax bills can vary significantly, with the 25th percentile paying around $1,552 and the 75th percentile paying up to $4,934. The 90th percentile sees tax bills as high as $6,934. Several factors influence these amounts, including the home's assessed value and any applicable exemptions. Homeowners in the zip code 76426 experience a median tax bill of $3,121, which is notably higher than the national median property tax rate of 0.99%. This higher tax burden can impact homeowners' finances, making it crucial for them to understand how their tax bills are determined and explore potential exemptions to reduce their tax liability.
Average Bridgeport Tax Bill
$3,121
Average Wise County Tax Bill
$3,273
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgeport, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76426 | $519 | $1,552 | $3,121 | $4,934 | $6,934 |
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 |