Krum, Wise County, Texas Property Taxes
Median Krum, TX effective property tax rate: 1.25%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Krum, TX home value: $153,868
Median annual Krum, TX tax bill: $1,474, $926 lower than the national median property tax bill of $2,400.
How are property taxes in Wise County calculated?
Property taxes in Krum, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Krum’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Krum, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Krum, Wise County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.25%
Estimate Property Tax Bill
$1,923
$1,785
Property Tax Rates Across Krum, Wise County, Texas
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Krum’s effective property tax rate to other cities in Texas and the median property tax rates in Texas and the U.S.
Krum, located in Wise County, has a median property tax rate of 1.25%. This rate is notably higher than the national median property tax rate of 1.02%. Despite the higher rate, property owners in Krum benefit from the essential services funded by these taxes. Comparing this to the national median property tax bill of $2400, property owners in Krum can expect to pay more due to the higher rate. Understanding these differences can help property owners make informed decisions regarding their investments and potential savings through tax appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Krum Tax Rate
1.25%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wise County Tax Rate
1.21%
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Krum, Wise County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76249 | 0.52% | 0.78% | 1.25% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Krum, Wise County, Texas
When examining property taxes in Krum, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wise County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Wise County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Krum.
For example, the median home price in Krum is $153,868, with tax bills ranging significantly across the county. 76249 has the highest median home price at $153,868.
Property Tax Assessment Values Across Krum, Wise County, Texas
Source: Ownwell
$130,683
$494,470
$858,257
Median Krum Market Value
$153,868
Median Wise County Market Value
$280,537
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Krum, Wise County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76249 | $43,268 | $92,777 | $153,868 | $308,470 | $432,970 |
Source: Ownwell
Property Tax Bills Across Krum, Wise County, Texas
In Krum, property tax bills are determined by multiplying the assessed value of a home by the local tax rate set by Wise County. The assessed value is based on the market value of the property, which can fluctuate with real estate trends. Factors such as location, property size, and improvements can influence this value. Homeowners in Krum face a median property tax bill of $1,474, which is below the national median of $2,400. However, tax bills can vary significantly, with some homeowners paying as little as $752 or as much as $4,408, depending on their property's assessed value.
Higher property tax bills can place a financial strain on homeowners, affecting their overall cost of living. Ownwell offers services to help homeowners in Krum potentially reduce their tax bills by appealing their property's assessed value. By leveraging local market data and expert knowledge, Ownwell aims to identify discrepancies in assessments and secure tax savings for homeowners, ensuring they do not overpay on their property taxes.
Median Krum Tax Bill
$1,474
Median Wise County Tax Bill
$3,273
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Krum, Wise County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76249 | $393 | $752 | $1,474 | $3,162 | $4,408 |
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 |