Holly Lake Ranch, Texas Property Taxes
The median property tax rate in Holly Lake Ranch, TX is 0.76%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Holly Lake Ranch at $265,150, the typical annual property tax bill reaches $2,019, which is below the national median of $2,690. Property taxes in Holly Lake Ranch 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 Holly Lake Ranch'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 Holly Lake Ranch 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
Holly Lake Ranch, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$2,015
$1,870
Ownwell’s HOLLY LAKE RANCH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HOLLY LAKE RANCH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOLLY LAKE RANCH 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 Holly Lake Ranch, Texas
Property taxes in Holly Lake Ranch, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holly Lake Ranch is 0.76%, lower than both the Texas state median of 1.83% and the U.S. national median of 0.99%. Local government entities within Holly Lake Ranch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holly Lake Ranch 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 Holly Lake Ranch's effective property tax rate to other counties in Texas and the national median. For comparison, the 75765 zip code has the highest median property tax rate of 0.76%, while the 75765 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Holly Lake Ranch 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 Holly Lake Ranch Tax Rate
0.76%
Average Wood County Tax Rate
0.67%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holly Lake Ranch, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75765 | 0.38% | 0.54% | 0.76% | 1.09% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Holly Lake Ranch, Texas
In Holly Lake Ranch, 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. Assessment notices in Holly Lake Ranch 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 Holly Lake Ranch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Holly Lake Ranch is $265,150. The 25th percentile tax bill is $1,238, while the 75th percentile is $2,961, and the 90th percentile tax bill reaches $3,976. The zip code 75765 has both the highest and lowest median tax bill, which is $2,019.
Property Tax Assessment Values Across Holly Lake Ranch, Texas
Source: Ownwell
$123,810
$280,895
$437,980
Average Holly Lake Ranch Assessed Value
$265,150
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 Holly Lake Ranch, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75765 | $159,807 | $198,505 | $265,150 | $343,002 | $453,857 |
Source: Ownwell
Property Tax Bills Across Holly Lake Ranch, Texas
In Holly Lake Ranch, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. For homeowners in Wood County, the median home price stands at $265,150. Property tax rates in this region can vary but generally hover around the county's average rate. Once the assessed value is established, the tax rate is applied to calculate the tax bill. In Holly Lake Ranch, tax bills can significantly vary. For instance, the tax bill at the 25th percentile is $1,238, while at the 75th percentile, it rises to $2,961. For those in the 90th percentile, the tax bill can reach up to $3,976. These property tax bills directly impact homeowners by influencing their annual expenses. Compared to the national median property tax rate of 0.99%, residents in Holly Lake Ranch might experience different financial burdens depending on their property's assessed value and the applicable tax rate.
Average Holly Lake Ranch Tax Bill
$2,019
Average Wood County Tax Bill
$816
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Holly Lake Ranch, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75765 | $671 | $1,238 | $2,019 | $2,961 | $3,976 |
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 |