Example of Collingsworth County Property Tax Calculation
Collingsworth County calculates property taxes based on the assessed value of the property. The assessment rate is 15%, meaning that the county assesses 15% of the property's value to determine the taxable amount.
For example, if a property in Collingsworth County has an assessed value of $100,000, the taxable amount would be $15,000 (15% of $100,000).
Next, the county applies the tax rate to the taxable amount. In 2021, the tax rate for Collingsworth County is 0.6595%. Using the previous example, the property owner would owe $98.93 in property taxes ($15,000 x 0.6595%).
Property owners in Collingsworth County have the option to pay their property taxes in full or in installments. Installment plans are available for those who meet certain criteria and must be approved by the county.
It's important for property owners to keep in mind that property tax rates can change from year to year, so it's always a good idea to check with the county's tax assessor's office for the most up-to-date information.
If you want appeal your property tax assessment - contact your local tax assessor.
Collingsworth County Property Tax Rates
Here is a formatted table listing the Collingsworth County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.565 |
| City | $0.790 |
| School | $1.145 |
| Hospital District | $0.150 |
| Junior College District | $0.140 |
It is important to note that property tax rates can vary depending on the specific location and property classification within Collingsworth County. It is recommended to consult with a professional tax advisor for personalized guidance regarding property taxes.
Who sets property tax rates in Collingsworth County ?
Who sets property tax rates in Collingsworth County?
The property tax rates in Collingsworth County are set by the Collingsworth County Commissioners Court. The commissioners court is made up of five elected officials who are responsible for setting the county's budget and tax rates.
When are property tax rates set in Collingsworth County?
The property tax rates in Collingsworth County are typically set in the summer months, between June and August. This is done in conjunction with the county's budget process, where the commissioners court reviews the county's revenue and expenses for the coming year.
| Who sets property tax rates in Collingsworth County? | The Collingsworth County Commissioners Court |
|---|---|
| When are property tax rates set in Collingsworth County? | Typically between June and August, as part of the county's budget process |
Homestead exemptions in Collingsworth County ?
Table: Collingsworth County Homestead Exemptions and Deductions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Residence Homestead Exemption | Any homeowner who uses the property as their primary residence | Up to 20% of the property's fair market value | Applicants must submit an application to the Collingsworth County Appraisal District |
| Age 65 or Older and Disabled Homestead Exemption | Any homeowner who is 65 years or older or disabled | Up to an additional $10,000 of the property's value | Applicants must meet certain income requirements and provide proof of age or disability |
| Disabled Veteran Homestead Exemption | Any veteran who has a service-connected disability rating of at least 10% | Up to an additional $12,000 of the property's value | Applicants must provide proof of their disability rating and submit an application to the Collingsworth County Appraisal District |
| Optional Percentage Homestead Exemption | Any homeowner | Up to an additional 10% of the property's value | Applicants must submit an application to the Collingsworth County Appraisal District |
| Over-65 or Disabled Persons Optional Percentage Homestead Exemption | Any homeowner who is 65 years or older or disabled | Up to an additional 10% of the property's value | Applicants must meet certain income requirements and provide proof of age or disability |
| Agricultural Land Deduction | Any landowner who uses their land for agricultural purposes | Up to a 20% deduction of the property's assessed value | Applicants must submit an application to the Collingsworth County Appraisal District |
| Open-Space Land Deduction | Any landowner who uses their land for wildlife management or other conservation purposes | Up to a 20% deduction of the property's assessed value | Applicants must submit an application to the Collingsworth County Appraisal District |
Note: Applicants must submit applications for exemptions and deductions by April 30th of the year following the tax year for which the exemption or deduction is sought.
When is Collingsworth County Property Tax due ?
Collingsworth County Property Tax is typically due on January 31st of each year. However, if this date falls on a weekend or holiday, the deadline is moved to the next business day.
Payment methods for Collingsworth County Property Tax include:
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Online: Property owners can pay their taxes online through the Collingsworth County Tax Office website using a credit card or e-check.
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Mail: Payments can also be mailed to the Collingsworth County Tax Office. Checks or money orders should be made payable to "Collingsworth County Tax Assessor-Collector" and sent to the following address:
Collingsworth County Tax Assessor-Collector P.O. Box 547 Wellington, TX 79095
- In Person: Property owners can pay their taxes in person at the Collingsworth County Tax Office located at 800 W. Ave., Wellington, TX 79095. Cash, checks or money orders are accepted.
It is important to note that late payments will result in penalties and interest charges. Property owners should make sure to pay their taxes on time to avoid additional fees.
If you have more questions - contact your local tax collector.
How is Collingsworth County Property Tax penalty calculated ?
Collingsworth County Property Tax Penalty Calculation:
Property taxes are important for counties to fund their local government activities, but failing to pay them on time can lead to penalties. Collingsworth County applies a penalty on unpaid tax amounts after their due date. To understand how the penalty is calculated, here are the steps:
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Determine the due date: The due date for Collingsworth County property tax is January 31st of the year following the assessment.
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Calculate the penalty rate: The penalty rate for unpaid property taxes in Collingsworth County is 6% of the total unpaid amount.
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Determine the penalty period: The penalty period starts on February 1st and ends on July 1st of the year the tax is due.
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Calculate the daily penalty rate: The daily penalty rate is 0.0328% of the unpaid amount.
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Calculate the total penalty: To calculate the total penalty, multiply the unpaid tax amount by the penalty rate and then by the number of days in the penalty period.
Example: Let's say that someone owes $2,000 in property taxes for Collingsworth County and fails to pay it by January 31st. Here's how the penalty will be calculated:
- Penalty rate: 6% of $2,000 = $120
- Penalty period: February 1st to July 1st (5 months)
- Daily penalty rate: 0.0328% of $2,000 = $0.656 per day
- Total penalty: $0.656 x 151 days (February 1st to July 1st) = $98.96
- Total amount due: $2,000 + $120 + $98.96 = $2,218.96
Therefore, the person will have to pay $2,218.96 in total, where $120 is the penalty for paying late.
It's vital to make sure that you pay your property taxes on time to avoid penalties and additional charges. Contact Collingsworth County tax office if you have any questions or concerns.
We recommend contacting the Collingsworth County Tax Office or a local tax professional for the most up-to-date and accurate information.