Winnsboro, Texas Property Taxes
The median property tax rate in Winnsboro, TX is 0.79%, notably lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $174,105 in Winnsboro, the typical annual property tax bill amounts to $1,246, which is significantly below the national median of $2,690. Property taxes in Winnsboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Winnsboro'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 Winnsboro or another part of Wood County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winnsboro, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,375
$1,273
Ownwell’s Winnsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winnsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winnsboro 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 Winnsboro, Texas
Property taxes in Winnsboro, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winnsboro is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Winnsboro set these rates annually, and they can vary across different neighborhoods. Each year, Winnsboro 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 Winnsboro's effective property tax rate to other counties in Texas and the national median. For comparison, the 75494 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Winnsboro 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 Winnsboro Tax Rate
0.79%
Average Wood County Tax Rate
0.67%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winnsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75494 | 0.16% | 0.40% | 0.79% | 1.36% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Winnsboro, Texas
In Winnsboro, 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 Winnsboro, 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 Winnsboro is $174,105, with tax bills ranging from $431 at the 25th percentile to $3,793 at the 90th percentile. Notably, the zip code 75494 has the highest and lowest median tax bill, both at $1,246. By understanding 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 Winnsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winnsboro Assessed Value
$174,105
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 Winnsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75494 | $25,639 | $86,328 | $174,105 | $287,535 | $433,628 |
Source: Ownwell
Property Tax Bills Across Winnsboro, Texas
In Winnsboro, located in Wood County, TX, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is established by the county appraisal district and is generally based on the market value of the property. Various factors, such as property size, location, and condition, influence this assessed value. Homeowners in Winnsboro experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $431, while at the 75th percentile, it rises to $2,416. The tax bill at the 90th percentile reaches up to $3,793. The median home price in the area is $174,105, which provides a benchmark for understanding these tax bills. Compared to the national median property tax rate of 0.99%, Winnsboro's property tax rates can significantly affect homeowners, depending on their property's assessed value. This variability in tax bills highlights the importance of understanding how local assessments and tax rates impact overall property expenses.
Average Winnsboro Tax Bill
$1,246
Average Wood County Tax Bill
$816
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Winnsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75494 | $96 | $431 | $1,246 | $2,416 | $3,793 |
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 |