Example of Borden County Property Tax Calculation
The Borden County Property Tax calculation is based on the assessed value of the property and the applicable tax rate. To determine the assessed value, the Borden County Appraisal District assesses the property based on its market value.
For example, if a property in Borden County has a market value of $100,000 and the assessed value is 90% of market value, then the assessed value would be $90,000.
To calculate the property tax, the assessed value is multiplied by the applicable tax rate. The tax rate varies depending on the taxing entities that apply to the property, such as the county, school district, and city.
Assuming a combined tax rate of 2.5%, the property tax for the above example would be $2,250 (90,000 x 0.025).
It is important to note that the property’s assessed value may increase or decrease over time, which can impact the property tax calculation. Additionally, there may be exemptions or deductions available that can lower the amount of property tax owed.
If you want appeal your property tax assessment - contact your local tax assessor.
Borden County Property Tax Rates
The Borden County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.515 |
| School | $1.040 |
| Hospital | $0.150 |
| Road | $0.192 |
| Total | $1.897 |
It is important to note that these rates are subject to change and may vary depending on the specific property and appraisal. Additionally, taxpayers should consult with a tax professional for specific advice on their individual tax situations.
Who sets property tax rates in Borden County ?
In Borden County, property tax rates are set by the County Commissioners Court. This group is made up of five elected officials who meet regularly to discuss and make decisions on county matters, including tax rates.
Property tax rates in Borden County are typically set once a year during a public hearing. At this hearing, the court will review the county's budget and determine the amount of revenue needed to fund county services and projects.
Once the revenue needs are established, the court will set the property tax rate accordingly. The property tax rate is expressed as a percentage of the property's value and is applied to each property owner's assessment.
It's important to note that property tax rates can vary between different areas within the county, such as cities and school districts. These rates are also set by elected officials who govern those respective areas.
Overall, the property tax rate in Borden County is an important source of funding for essential services like schools, law enforcement, and infrastructure.
Homestead exemptions in Borden County ?
To help homeowners in Borden County, Texas, understand their Homestead exemptions and deductions, here is a table of all county-specific information:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Must own and occupy the home as their primary residence on January 1st of the tax year | $25,000 | Reduces the taxable value of the home |
| Over 65 or Disabled Exemption | Must be at least 65 years old or disabled | $40,000 | Applies in addition to the general Homestead exemption |
| Optional Percentage Homestead Exemption | Must have owned and occupied the home as their primary residence for at least one year | Up to 20% | Allows a percentage-based exemption on the taxable value of the home |
| Disabled Veteran Exemption | Must be a disabled veteran with a service-connected disability of at least 10% | Up to $12,000 | Applies in addition to the general Homestead exemption |
It is important to note that homeowners must apply for these exemptions with the Borden County Appraisal District by April 30th of the tax year. Additionally, some exemptions may not be compatible with others, so homeowners should consult with the appraisal district to determine which exemptions they are eligible for and which will provide the most benefit. With this information, homeowners can save money on their property taxes and better understand their options in Borden County.
When is Borden County Property Tax due ?
Borden County Property Tax is typically due on January 31st of each year. Here are some important details about payment methods:
Payment Methods:
| Payment Method | Details |
|---|---|
| Online Payment | Borden County offers online payment options through their website. You can pay using electronic check, credit card, or debit card. A convenience fee will be charged for all credit and debit card transactions. |
| Mail-in Payment | You can mail your payment to the Borden County Tax Office. The mailing address can be found on the tax statement you received. Make sure to include your payment stub and write your property ID number on your check to ensure accurate payment processing. |
| In-person Payment | You can pay your property tax in person at the Borden County Tax Office. The office is located at the Borden County Courthouse, and office hours are typically Monday through Friday from 8:00 am to 12:00 pm and 1:00 pm to 5:00 pm. |
It's important to note that if you do not pay your property tax by the due date, penalties and interest will be added to your bill. It's recommended that you make your payment as soon as possible to avoid additional fees. If you have any questions about payment methods or your property tax bill, you can contact the Borden County Tax Office for assistance.
If you have more questions - contact your local tax collector.
How is Borden County Property Tax penalty calculated ?
Borden County in Texas has property tax penalties that can be imposed if a taxpayer fails to pay their taxes on time. The penalty is calculated based on the amount of taxes owed and the number of days the taxes are past due. Here's an example of how the penalty calculation works:
Let's say a taxpayer owes $2,000 in property taxes to Borden County. The due date for the taxes is January 31st, but the taxpayer doesn't pay until March 1st. That's a total of 30 days past due. Here's how the penalty is calculated:
- First, the county applies a 6% penalty to the taxes owed. In this case, that's $120 (6% of $2,000).
- Next, the county applies a 1% penalty for each month (or part of a month) that the taxes are past due. Since the taxes are 30 days past due, that's two months (January and February). So the county adds an additional 2% penalty to the taxes owed. That's $40 (2% of $2,000).
- Finally, the county adds any applicable interest charges to the total amount owed. In Borden County, the interest rate is currently set at 1% per month.
So in this example, the total penalty for being 30 days past due on $2,000 in property taxes would be $160 ($120 + $40). If the taxpayer doesn't pay the full amount owed (including penalties and interest) within a certain period of time, the county may initiate legal action such as a tax lien or foreclosure.
It's important to note that property tax penalties can vary by county and state, so it's always a good idea to check with your local tax authority to understand the specific rules that apply in your area.
We recommend contacting the Borden County Tax Office or a local tax professional for the most up-to-date and accurate information.