Emory, Texas Property Taxes
The median property tax rate in Emory, TX is 0.87%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Emory at $437,980, the typical annual property tax bill amounts to $3,413, surpassing the national median of $2,690. Property taxes in Emory 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 Emory'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 Emory 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
Emory, 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 Emory Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Emory with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Emory to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you plan and budget more effectively. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Emory, Texas
Property taxes in Emory, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emory is 0.87%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Emory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emory 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 Emory's effective property tax rate to other counties in Texas and the national median. For comparison, the 75440 zip code has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Emory provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emory Tax Rate
0.87%
Average Wood County Tax Rate
0.67%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75440 | 0.57% | 0.73% | 0.87% | 1.13% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Emory, Texas
In Emory, 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 Wood 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 Emory, 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 Emory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Emory are both $3,413, found in the 75440 zip code.
Average Emory Assessed Value
$437,980
Average Wood County Assessed Value
$164,060
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75440 | $173,424 | $281,240 | $437,980 | $593,620 | $724,382 |
Source: Ownwell
Property Tax Bills Across Emory, Texas
In Emory, property tax bills are calculated based on the assessed value of your home and the local tax rate set by Wood County. The assessed value is determined by the county appraisal district and reflects the market value of your property. This value is then multiplied by the local tax rate to calculate your annual property tax bill. Factors such as property improvements, market trends, and neighborhood changes can influence the assessed value. For homeowners in Emory, the median home price is $437,980, leading to varying tax bills. For example, the tax bill at the 25th percentile is $1,993, while at the 75th percentile, it rises to $5,741. The highest median tax bill in the area is $3,413, found in the 75440 zip code. Compared to the national median property tax rate of 0.99%, Emory’s rates can significantly impact homeowners' annual expenses. Understanding these factors can help homeowners anticipate their property tax liabilities and plan their finances accordingly.
Average Emory Tax Bill
$3,413
Average Wood County Tax Bill
$816
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Emory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75440 | $798 | $1,993 | $3,413 | $5,741 | $7,163 |
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 | |
|---|---|
| Wood Appraisal District | |
| Website | esearch.woodcad.net |