Example of Taylor County Property Tax Calculation
Taylor County calculates property taxes based on the assessed value of the property. For example, if a property in Taylor County is assessed at $100,000, the property tax rate is 1.5%, and there are no exemptions, the property tax calculation would be as follows:
Assessed value: $100,000 Tax rate: 1.5% (or 0.015) Property tax: $1,500 (100,000 x 0.015)
This means that the property owner would owe $1,500 in property taxes for the year. It's important to note that this is just an example, and actual property tax calculations may vary depending on a number of factors, including exemptions and any changes to the tax rate.
If you want appeal your property tax assessment - contact your local tax assessor.
Taylor County Property Tax Rates
Taylor County Property Tax Rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.4799 |
| County Road and Bridge Fund | $0.0835 |
| Taylor County Emergency Services District #1 | $0.10 |
| Taylor County Water Control and Improvement District #1 | $0.025 |
| Taylor County Hospital District | $0.11 |
The above table displays the Taylor County Property Tax Rates, with a breakdown of the different taxes and their corresponding rates per $100 of assessed value. The County General Fund has the highest rate at $0.4799, followed by the Taylor County Hospital District at $0.11. The Taylor County Emergency Services District #1, Taylor County Water Control and Improvement District #1, and County Road and Bridge Fund have rates of $0.10, $0.025, and $0.0835 respectively. These rates are subject to change and taxpayers are advised to consult the official Taylor County Tax Assessor's office for up-to-date information.
Who sets property tax rates in Taylor County ?
Who sets property tax rates in Taylor County?
The property tax rates in Taylor County are set by the Taylor County Board of Commissioners. The board is made up of five elected officials who are responsible for managing the finances and operations of the county.
When are property tax rates set in Taylor County?
The Taylor County Board of Commissioners typically sets property tax rates in the fall of each year, after completing the county's budget process. This allows them to determine how much revenue is needed to fund county services and set the appropriate tax rate to generate that revenue.
How are property tax rates determined in Taylor County?
The property tax rate in Taylor County is determined by dividing the total amount of revenue needed to fund county services by the assessed value of all taxable property in the county. The assessed value of a property is determined by the Taylor County Appraisal District, which appraises all real and personal property in the county on an annual basis.
Property taxes in Taylor County are an important source of revenue for the county, helping to fund essential services like schools, public safety, and infrastructure. It is important for property owners in the county to understand how their property taxes are determined, and to be aware of any changes or updates to the property tax rate each year.
Homestead exemptions in Taylor County ?
The Homestead exemption and deductions vary by county in Texas, and for Taylor County, there are several exemptions and deductions available for eligible homeowners. Here's a breakdown of the available exemptions and deductions in Taylor County:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | All homeowners | Up to $25,000 | Applies to the primary residence of the homeowner |
| Over 65 Exemption | Homeowners aged 65 and older | Up to $10,000 | The homeowner must have owned the property for at least one year and must use it as their primary residence |
| Disability Exemption | Homeowners with disabilities | Up to $10,000 | The homeowner must have owned the property for at least one year and must use it as their primary residence |
| Disabled Veterans Exemption | Qualifying veterans | Up to $12,000 | Applies to those who have a service-connected disability of at least 10% |
| Surviving Spouse Exemption | Surviving spouses of military members | Up to $5,000 | The homeowner must have owned the property for at least one year and must use it as their primary residence |
It's important to note that these exemptions and deductions have specific eligibility requirements, and homeowners must apply for them through the Taylor County Appraisal District. Additionally, some exemptions may not be combined, and the amounts listed may change from year to year. Homeowners should consult with the Taylor County Appraisal District or a tax professional for more information and assistance with applying for these exemptions and deductions.
When is Taylor County Property Tax due ?
According to the Taylor County Tax Assessor's office, property taxes are typically due on January 31st of each year. Here are some payment methods available for property tax payments in Taylor County:
| Payment Method | Details |
|---|---|
| Online | Payments can be made online using a debit or credit card, or through an electronic check. A convenience fee will apply. |
| Mailing a Check | Checks can be mailed to the Taylor County Tax Assessor's office along with the payment stub from the tax bill. |
| In-Person | Payments can be made in-person at the Taylor County Tax Assessor's office during regular business hours. |
It is important to note that failure to pay property taxes on time can result in penalties and interest charges. If a taxpayer is unable to pay their property taxes in full by the due date, they may be eligible for a payment plan through the Taylor County Tax Assessor's office.
If you have more questions - contact your local tax collector.
How is Taylor County Property Tax penalty calculated ?
Taylor County Property Tax Penalty Calculation
When property taxes are not paid on time in Taylor County, a penalty is added to the amount due. The penalty is calculated based on the number of days the payment is late and the amount owed.
Here is an example of how the penalty is calculated:
| Amount Owed | Penalty Rate | Days Late | Penalty Amount |
|---|---|---|---|
| $1,000 | 6% | 30 | $18.49 |
In this example, the property owner owes $1,000 in property taxes. The penalty rate for Taylor County is 6% of the unpaid amount. The payment is 30 days late. Therefore, the penalty amount is calculated as follows:
Penalty Amount = Amount Owed x Penalty Rate x Days Late / 365
Penalty Amount = $1,000 x 0.06 x 30 / 365
Penalty Amount = $18.49
The property owner would be required to pay the original $1,000 owed plus the $18.49 penalty for a total of $1,018.49.
It is important for property owners in Taylor County to pay their property taxes on time to avoid penalties and additional fees. Property taxes fund essential services such as schools, roads, and law enforcement, so paying on time supports the local community.
We recommend contacting the Taylor County Tax Office or a local tax professional for the most up-to-date and accurate information.