Falcon, Texas Property Taxes
The median property tax rate in Falcon, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Falcon, the typical annual property tax bill reaches $1,256, exceeding the national median of $2,690. Property taxes in Falcon 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 Falcon'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 Falcon 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
Falcon, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$1,254
$1,160
Ownwell’s Falcon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falcon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falcon 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 Falcon, Texas
Property taxes in Falcon, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falcon is 1.85%, significantly higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Falcon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falcon 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 Falcon's effective property tax rate to other counties in Texas and the national median. For comparison, the 78564 zip code has both the highest and lowest median property tax rate of 1.85%. Understanding how these cities compare with Falcon provides valuable insights into the varying tax landscape across 48505, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falcon Tax Rate
1.85%
Average Zapata County Tax Rate
1.85%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falcon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78564 | 1.71% | 1.85% | 1.85% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Falcon, Texas
In Falcon, 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 Zapata 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 Falcon, 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. Falcon's median home price stands at $67,782, with tax bills ranging from $859 at the 25th percentile to $2,556 at the 90th percentile. The highest and lowest median tax bills are both found in the 78564 zip code, each at $1,256. 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 Falcon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Falcon Assessed Value
$67,782
Average Zapata County Assessed Value
$53,234
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Falcon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78564 | $24,015 | $46,372 | $67,782 | $133,299 | $138,479 |
Source: Ownwell
Property Tax Bills Across Falcon, Texas
In Falcon, located in Zapata County, TX, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the county appraisal district and is supposed to reflect the market value of the property. Homeowners in Falcon face a median tax bill that varies significantly, with the 25th percentile at $859 and the 75th percentile at $2,419. The highest median tax bill in Falcon is $1,256, which is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, homestead exemptions can lower the taxable value, thereby reducing the tax burden. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. Homeowners must be vigilant about their assessed values and ensure they are fair, as this directly impacts their annual tax bill and overall financial planning.
Average Falcon Tax Bill
$1,256
Average Zapata County Tax Bill
$972
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Falcon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78564 | $398 | $859 | $1,256 | $2,419 | $2,556 |
Source: Ownwell