Paradise, Texas Property Taxes
The median property tax rate in Paradise, TX is 1.18%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $352,997 in Paradise, the typical annual property tax bill amounts to $3,796, surpassing the national median of $2,690. Property taxes in Paradise are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Paradise'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 Paradise or another part of Wise County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paradise, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$4,165
$3,865
Ownwell’s Paradise Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Paradise with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paradise to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities clearly and efficiently. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Paradise, Texas
Property taxes in Paradise, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paradise is 1.18%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Paradise set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paradise 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 Paradise's effective property tax rate to other counties in Texas and the national median. For comparison, the 76073 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Paradise 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 Paradise Tax Rate
1.18%
Average Wise County Tax Rate
1.21%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paradise, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76073 | 0.63% | 0.96% | 1.18% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Paradise, Texas
In Paradise, 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 Paradise, 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. The median home price in Paradise stands at $352,997, with tax bills ranging from $1,886 at the 25th percentile to $7,423 at the 90th percentile. The highest and lowest median tax bills are both $3,796, found in zip code 76073. 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 Paradise helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Paradise Assessed Value
$352,997
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 Paradise, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76073 | $85,251 | $196,710 | $352,997 | $526,667 | $685,208 |
Source: Ownwell
Property Tax Bills Across Paradise, Texas
In Paradise, Wise County, TX, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the Wise County Appraisal District and reflects the market value of the property. Local tax rates, which are set by various taxing entities such as school districts, municipalities, and special districts, are then applied to this assessed value to calculate the annual tax bill. For a median home price of $352,997 in Paradise, homeowners can expect varying tax bills. The tax bill at the 25th percentile is approximately $1,886, while at the 75th percentile, it can rise to around $5,895. For those at the 90th percentile, the tax bill can reach up to $7,423. These figures show a significant range, indicating how factors such as property value and local tax rates can impact the final amount owed. Comparatively, with a national median property tax rate of 0.99%, residents of Paradise may find their tax rates to be competitive, but the actual tax burden will depend on the specific assessed value and applicable tax rates.
Average Paradise Tax Bill
$3,796
Average Wise County Tax Bill
$3,273
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Paradise, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76073 | $838 | $1,886 | $3,796 | $5,895 | $7,423 |
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 |