Example of Hopkins County Property Tax Calculation
Hopkins County calculates property taxes based on the assessed value of the property. For example, if a property is assessed at $100,000, and the tax rate is 1%, then the property tax for that year would be $1,000.
To find out the assessed value of a property in Hopkins County, one can check the county's online property tax records or contact the Hopkins County Property Assessor's Office. Property owners can also estimate their property tax by multiplying the assessed value of their property by the current tax rate.
It's important to note that property tax rates and assessed values can vary depending on the location and type of property. Additionally, some exemptions or deductions may apply to certain property owners, such as seniors or veterans. Overall, it's best to consult with the Hopkins County Property Assessor's Office for personalized information regarding property tax calculation.
If you want appeal your property tax assessment - contact your local tax assessor.
Hopkins County Property Tax Rates
The Hopkins County Property Tax rates are as follows:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.547 |
| County Road and Bridge Fund | $0.126 |
| County Special Road District #1 | $0.03 |
| County Special Road District #2 | $0.036 |
| County Ambulance District | $0.25 |
| Madisonville City General Fund | $0.508 |
| Madisonville City School District | $0.715 |
| Nortonville City General Fund | $0.311 |
| Nortonville City School District | $0.333 |
Please note that these rates may be subject to change and taxpayers should check with the Hopkins County Property Valuation Administrator's office for the most up-to-date information.
Who sets property tax rates in Hopkins County ?
Hopkins County Property Tax Rates
Property tax rates in Hopkins County are set by Hopkins County Commissioners Court annually. The court is composed of five elected officials who serve as the governing body of the county. The court sets the property tax rates for the entire county based on various factors, including the county's budget and revenue needs.
The property tax rates are set in September of each year and are effective for the following fiscal year, which runs from October 1st to September 30th. The tax rates are determined by dividing the county's budget by the total taxable value of all properties within the county.
It is important to note that property tax rates can vary depending on the location within Hopkins County. Different cities and school districts within the county may also have their own property tax rates, in addition to the county's tax rate.
Property owners in Hopkins County receive their property tax bills in October and have until January 31st of the following year to pay them. Failure to pay property taxes can result in penalties and interest charges, as well as potential legal action by the county.
Summary of Hopkins County Property Tax Rates
| Who sets the property tax rates? | Hopkins County Commissioners Court |
|---|---|
| When are the property tax rates set? | Annually in September |
| When are the property tax bills issued? | October |
| When are property taxes due? | January 31st of the following year |
| Consequences of not paying property taxes | Penalties, interest charges, and potential legal action |
Homestead exemptions in Hopkins County ?
To help homeowners in Hopkins County, Texas to understand the various Homestead exemptions and deductions available to them, the following table has been created:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead exemption | Must be owner-occupied residential property | Up to $25,000 | Reduces taxable value of property |
| Over 65 exemption | Must be at least 65 years old and meet income requirements | Up to $10,000 | Reduces taxable value of property |
| Disabled veteran exemption | Must be a disabled veteran or surviving spouse of a disabled veteran | Up to $12,000 | Reduces taxable value of property |
| Agricultural exemption | Must use property for agriculture purposes | Varies | Reduces taxable value of property |
| Low-income homestead exemption | Must have income below a certain level and meet other requirements | Varies | Reduces taxable value of property |
| Disabled person exemption | Must be disabled and meet certain requirements | Up to $10,000 | Reduces taxable value of property |
It's important to note that there may be other exemptions and deductions available depending on individual circumstances. Homeowners in Hopkins County should consult with their local tax assessor's office to determine their eligibility for any additional exemptions or deductions.
Overall, these Homestead exemptions and deductions are designed to help homeowners in Hopkins County reduce their property taxes and make homeownership more affordable.
When is Hopkins County Property Tax due ?
Hopkins County Property Tax Due Date and Payment Methods
Property taxes are a crucial source of revenue for local governments, including Hopkins County. If you own property in Hopkins County, you must pay property taxes by a certain due date. Here's what you need to know:
Due Date for Hopkins County Property Tax
The due date for Hopkins County Property Tax is January 31st of each year. This means that property owners in Hopkins County must pay their property taxes on or before January 31st. If you fail to pay your property taxes on time, you may be subject to penalties and interest charges.
Payment Methods for Hopkins County Property Tax
Property owners in Hopkins County have various payment methods available to pay their property taxes. The following are the acceptable payment methods for Hopkins County Property Tax:
-
In-Person: Property owners can pay their property taxes in person at the Hopkins County Tax Office. The Tax Office is open from Monday to Friday, 8:00 AM to 4:30 PM. The office is located at 1200 W. Houston Street, Sulphur Springs, TX 75482.
-
By Mail: Property owners can mail their payment to the Hopkins County Tax Office. The address is Hopkins County Tax Office, P.O. Box 129, Sulphur Springs, TX 75483. Payments must be postmarked on or before January 31st to avoid penalties and interest charges.
-
Online: Property owners can pay their property taxes online through the Hopkins County Tax Office website. You can pay using a credit card, debit card, or e-check. There is a convenience fee for paying online.
-
By Phone: Property owners can also pay their property taxes by phone. Call the Hopkins County Tax Office at (903) 438-4074 to make a payment. There is a convenience fee for paying by phone.
In conclusion, Hopkins County Property Taxes are due on January 31st of each year. Property owners have various payment methods available, including in-person, by mail, online, and by phone. Choose the payment method that works best for you, and remember to pay on or before the due date to avoid penalties and interest charges.
If you have more questions - contact your local tax collector.
How is Hopkins County Property Tax penalty calculated ?
Hopkins County Property Tax Penalty Calculation
When the property taxes are not paid by the due date, Hopkins County imposes a penalty on the unpaid amount. The penalty is calculated as a percentage of the unpaid taxes and increases every month until the taxes are paid in full.
Here is an example to illustrate how the penalty is calculated:
| Month | Unpaid Taxes | Penalty Rate | Penalty Amount |
|---|---|---|---|
| Jan | $1,000 | 6% | $60 |
| Feb | $1,060 | 7% | $74.20 |
| Mar | $1,134.20 | 8% | $90.74 |
| Apr | $1,224.94 | 9% | $110.24 |
| May | $1,335.18 | 10% | $133.52 |
Assuming that the property taxes for the year 2021 were due on January 31, 2022 and the property owner did not pay the full amount of $1,000 by the due date. In this case, the penalty rate would be 6% for the first month, which would amount to $60. If the taxes are still not paid by the end of February, the penalty rate would increase to 7% and the penalty amount would be $74.20. The same calculation would continue for each subsequent month until the taxes are paid in full.
It is important to note that Hopkins County property taxes are assessed based on the appraised value of the property and the tax rate set by the county. The penalty for late payment can add up quickly and result in significant additional charges. It is recommended to pay property taxes on time to avoid penalty charges.
We recommend contacting the Hopkins County Tax Office or a local tax professional for the most up-to-date and accurate information.