Example of Castro County Property Tax Calculation
Castro County Property Tax is calculated based on the assessed value of the property and the tax rate set by the county government. The county appraiser assesses the value of the property every year, and the owner receives a notice of the assessed value. The assessment value is multiplied by the tax rate to calculate the amount of property tax owed.
For example, if the assessed value of a property is $100,000 and the tax rate is 2%, then the property tax owed would be $2,000 ($100,000 x 0.02).
It is important to note that property tax rates can vary by location and the type of property owned. Additionally, property owners may be eligible for exemptions or deductions that could reduce their property tax liability. It is recommended to consult with a tax professional or the county assessor's office for more information.
If you want appeal your property tax assessment - contact your local tax assessor.
Castro County Property Tax Rates
The Castro County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.6079 |
| City of Dimmitt | $0.4094 |
| Dimmitt ISD | $1.1885 |
| Hart ISD | $1.1769 |
It is important to note that these rates are subject to change and may vary based on the specific property being assessed. It is recommended that individuals consult with a qualified tax advisor for personalized guidance on property tax matters.
Who sets property tax rates in Castro County ?
Who sets property tax rates in Castro County?
The property tax rates in Castro County are set by the Castro County Commissioners Court. This group consists of five elected officials who are responsible for overseeing the financial affairs of the county. One of their primary responsibilities is to set the property tax rates each year.
When are property tax rates set in Castro County?
The Castro County Commissioners Court typically sets the property tax rates during their budget hearings in August or September of each year. These rates are then applied to the assessed value of each property in the county to determine the amount of property tax that property owners will owe for the year. It is important to note that property owners have the ability to protest their assessed value or property tax rate if they believe it is incorrect or unfair.
Homestead exemptions in Castro County ?
The table below outlines the various Homestead exemptions and deductions specific to Castro County in Texas. These exemptions and deductions can help homeowners reduce their property taxes and are subject to specific eligibility criteria.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner must have occupied the property as their primary residence on January 1st of the current tax year. | Up to 20% of the property's appraised value, with a minimum exemption of $5,000. | Applies to all properties used as a primary residence. |
| Over 65 Exemption | Owner must be 65 years of age or older OR have a disability. | Up to $10,000 in exemption. | The property must be the owner's primary residence. |
| Disabled Person Exemption | Owner must have a disability. | Up to $10,000 in exemption. | The property must be the owner's primary residence. |
| Veterans Exemption | Owner must be a veteran who was honorably discharged from the military OR a surviving spouse of a veteran. | Up to $12,000 in exemption. | The property must be the owner's primary residence. |
| Donated Residence Homestead Exemption | Owner must have received the property as a gift or donation from a qualifying organization. | Up to 100% exemption for the first year of ownership. | The exemption decreases by 25% each year until it reaches 0%. |
It's important to note that eligibility requirements and exemption amounts may change over time. Homeowners in Castro County should consult with their local tax authority for the most up-to-date information on Homestead exemptions and deductions.
When is Castro County Property Tax due ?
Castro County Property Tax is typically due on January 31st of each year. Property owners are required to pay their property taxes in full by this deadline. Failure to pay on time can result in penalties and interest fees.
Property owners have several payment methods available to them. They can pay their property taxes in person at the Castro County Tax Office, located at 100 E Bedford St, Dimmitt, TX 79027. Alternatively, they can pay online through the county's website using a credit card or e-check. Payments can also be made by mail, by sending a check or money order to the tax office.
It is important to note that if the property owner has an escrow account with their mortgage company, the mortgage company may handle the property tax payment on their behalf. Property owners are advised to check with their mortgage company to confirm if this is the case.
Overall, it is essential for property owners in Castro County to pay their property taxes on time and to explore the various payment methods available to them.
If you have more questions - contact your local tax collector.
How is Castro County Property Tax penalty calculated ?
Castro County Property Tax Penalty Calculation
Castro County in Texas imposes a penalty on unpaid property taxes, which accrues every month until the taxes are paid in full. The penalty calculation is based on the unpaid balance of property taxes and the number of months that have elapsed since the due date of the taxes.
Here's an example:
Let's say that a property owner in Castro County owes $5,000 in property taxes for the year 2020. The due date for the taxes was January 31, 2021. However, the property owner failed to pay the taxes by the due date, and as a result, the taxes are now considered delinquent.
The county will impose a penalty of 1% per month on the unpaid balance of the taxes, starting from February 1, 2021. So, if the property owner pays the taxes on March 1, 2021, the penalty will be calculated as follows:
| Month | Unpaid Balance | Penalty |
|---|---|---|
| Feb | $5,000 | $50 (1% of $5,000) |
| Mar | $5,050 | $50.50 (1% of $5,050) |
Therefore, the total amount owed by the property owner will be $5,100.50.
It's important to note that the penalty will continue to accrue every month until the taxes are paid in full. So, if the property owner waits until April 1, 2021, to pay the taxes, the penalty will be calculated as follows:
| Month | Unpaid Balance | Penalty |
|---|---|---|
| Feb | $5,000 | $50 (1% of $5,000) |
| Mar | $5,050 | $50.50 (1% of $5,050) |
| Apr | $5,100.50 | $51.01 (1% of $5,100.50) |
Therefore, the total amount owed by the property owner will be $5,151.01.
In conclusion, it's important for property owners in Castro County to pay their property taxes on time to avoid accruing penalties. The penalty is calculated based on the unpaid balance of taxes and the number of months that have elapsed since the due date of the taxes.
We recommend contacting the Castro County Tax Office or a local tax professional for the most up-to-date and accurate information.