Example of Erath County Property Tax Calculation
Erath County property taxes are calculated based on the assessed value of the property. This value is determined by multiplying the market value of the property by the assessment ratio, which is currently set at 10%.
For example, if the market value of a property in Erath County is $100,000, the assessed value would be $10,000 ($100,000 x 0.10).
Next, the local tax rate is applied to the assessed value. In Erath County, the tax rate for the 2021 tax year is set at $0.3744 per $100 of assessed value.
Using the earlier example, the property tax owed would be $37.44 ($10,000 x 0.3744).
It is important to note that property owners may be eligible for certain exemptions or reductions in their assessed value, which can lower their property tax bill. Additionally, property taxes in Erath County are due by January 31st of the year following the assessment.
If you want appeal your property tax assessment - contact your local tax assessor.
Erath County Property Tax Rates
Erath County property tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.4720 |
| City (Stephenville) | $0.6200 |
| Dublin ISD | $1.0800 |
| Hico ISD | $1.2897 |
| Lipan ISD | $1.0400 |
| Stephenville ISD | $1.2000 |
Note: These rates are subject to change and may vary depending on the property location and purpose. It is advisable to consult with a qualified tax advisor for accurate and up-to-date information.
Who sets property tax rates in Erath County ?
The property tax rates in Erath County, USA, are determined by the local government officials. The county commissioners' court, which consists of four elected officials and a county judge, has the responsibility to set the tax rates each year. They hold a public hearing to discuss the budget and set the rates based on the assessed values of the properties in the county. It is important to note that the rates are subject to change each year, depending on the needs of the county and any changes in property values. Property owners in Erath County should pay attention to the tax rate changes to ensure they are aware of their tax obligations.
Homestead exemptions in Erath County ?
Homestead Exemptions and Deductions in Erath County, Texas
Here is a breakdown of all county-specific homestead exemptions and deductions available in Erath County, Texas.
| Column | Description |
|---|---|
| Exemption | The type of exemption or deduction available |
| Eligibility | Who is eligible for the exemption |
| Amount | The amount of the exemption or deduction |
| Notes | Additional information regarding the exemption or deduction |
Exemptions and Deductions
General Homestead Exemption
| Column | Description |
|---|---|
| Exemption | General Homestead Exemption |
| Eligibility | Property owners who use the property as their primary residence |
| Amount | Up to $25,000 of the assessed value of the property |
| Notes | This exemption applies to all Texas counties. |
Over 65 or Disabled Persons Homestead Exemption
| Column | Description |
|---|---|
| Exemption | Over 65 or Disabled Persons Homestead Exemption |
| Eligibility | Property owners who are over the age of 65 or disabled |
| Amount | Up to $10,000 of the assessed value of the property |
| Notes | This exemption applies to all Texas counties. |
Disabled Veterans Exemption
| Column | Description |
|---|---|
| Exemption | Disabled Veterans Exemption |
| Eligibility | Veterans with a 100% service-connected disability |
| Amount | Up to 100% exemption of the assessed value of the property |
| Notes | This exemption applies to all Texas counties. |
Optional Percentage Homestead Exemption
| Column | Description |
|---|---|
| Exemption | Optional Percentage Homestead Exemption |
| Eligibility | Property owners who use the property as their primary residence |
| Amount | Up to 20% exemption of the assessed value of the property |
| Notes | The percentage of exemption is determined by the local government. |
School District Taxes Homestead Exemption
| Column | Description |
|---|---|
| Exemption | School District Taxes Homestead Exemption |
| Eligibility | Property owners who use the property as their primary residence |
| Amount | Up to $25,000 of the assessed value of the property |
| Notes | This exemption only applies to school district taxes. |
County Taxes Homestead Exemption
| Column | Description |
|---|---|
| Exemption | County Taxes Homestead Exemption |
| Eligibility | Property owners who use the property as their primary residence |
| Amount | Up to 20% exemption of the assessed value of the property |
| Notes | This exemption only applies to county taxes. |
Conclusion
Erath County offers several homestead exemptions and deductions to eligible property owners. These exemptions and deductions can provide significant savings on property taxes. Be sure to check with your local government for more information on how to apply for these exemptions.
When is Erath County Property Tax due ?
Erath County Property Tax is typically due on January 31st of each year. Failure to pay by this deadline results in penalties and interest. There are several payment methods available to taxpayers in Erath County, including:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can pay online through the Erath County Tax Office website by using a debit or credit card. |
| Payments can be mailed to the Erath County Tax Office at the address listed on the tax statement. | |
| In-Person | Taxpayers can pay in-person at the Erath County Tax Office during regular business hours. Accepted forms of payment include cash, check, money order, and credit/debit card. |
It is important to note that if a taxpayer chooses to pay with a credit or debit card, there is an additional fee charged by the payment processor. Additionally, if a taxpayer has an escrow account with their mortgage lender, the lender may pay the property tax on their behalf. It is always recommended to check with the lender to confirm if they will be paying the property tax.
If you have more questions - contact your local tax collector.
How is Erath County Property Tax penalty calculated ?
Erath County Property Tax Penalty Calculation
When a property owner fails to pay their property tax on time, they are subject to a penalty fee that accumulates over time until the debt is paid in full. The penalty fee is calculated as a percentage of the unpaid taxes and is added to the total amount owed each month until the debt is cleared.
Here’s an example of how the penalty is calculated:
Assume a property owner owes $1,000 in property taxes and fails to pay by the due date, which is January 31. The penalty for late payment is 6% of the unpaid taxes, which means the property owner will be charged an additional $60 (6% of $1,000).
If the taxes are still unpaid by February 28, the penalty will increase to 7%, which means the property owner will be charged an additional $70 (7% of $1,000). If the taxes remain unpaid by March 31, the penalty will increase to 8%, and so on.
The penalty fee is compounded monthly, meaning that the percentage is applied to the new balance every month until the debt is paid in full.
To summarize, the penalty fee for late property tax payment in Erath County is calculated as follows:
| Month | Penalty Percentage | Penalty Amount |
|---|---|---|
| Due Date (January 31) | 6% | $60 |
| February | 7% | $70 |
| March | 8% | $80 |
| April | 9% | $90 |
| May | 10% | $100 |
| June | 11% | $110 |
| July | 12% | $120 |
| August | 12% | $120 |
| September | 12% | $120 |
| October | 12% | $120 |
| November | 12% | $120 |
| December | 12% | $120 |
It’s important to pay property taxes on time to avoid accruing unnecessary penalty fees. Property owners should also check with their local tax office to confirm the due dates and any other relevant information.
We recommend contacting the Erath County Tax Office or a local tax professional for the most up-to-date and accurate information.