Terry County Property Tax Rates
Here are the Terry County Property Tax rates for the current year:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| County | $0.4849 |
| School | $1.1225 |
| City | $0.6000 |
| Hospital | $0.2425 |
As a tax advisor, it is important to understand and communicate the tax rates of a given area. These rates are subject to change on an annual basis, so it is important to stay up-to-date on the latest information regarding property tax rates in Terry County.
Example of Terry County Property Tax Calculation
The property tax calculation in Terry County is based on the assessed value of the property. The assessed value is determined by the Terry County Appraisal District, which takes into account factors like the size, age, and condition of the property.
Once the assessed value is determined, the tax rate is applied to calculate the amount of property tax owed. The tax rate is set by the governing bodies in the county, including the county commissioners and the school district.
For example, if a property in Terry County has an assessed value of $100,000 and the tax rate is 2%, the property tax owed would be $2,000. This amount may be paid in installments or as a lump sum, depending on the preferences of the property owner.
It's important to note that property tax rates and assessment values can vary from year to year, so property owners should stay informed about changes and updates in the Terry County property tax system.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in Terry County ?
Who and when sets property tax rates in Terry County?
The property tax rates in Terry County, USA, are set by the Terry County Commissioners' Court. They meet annually to set the rates, usually in the month of September.
The Commissioners' Court considers various factors, such as the county's budget, necessary expenditures, and revenue projections, when determining the property tax rates. They may also take into account any changes in property values, as assessed by the Terry County Appraisal District.
Once the Commissioners' Court has set the property tax rates, the Terry County Tax Assessor-Collector's office is responsible for collecting the taxes from property owners.
It is important for property owners in Terry County to be aware of the property tax rates and understand how they are determined, as property taxes are a significant source of revenue for the county and can affect their overall financial obligations.
When is Terry County Property Tax due ?
Terry County Property Tax typically has a due date of January 31st each year. However, if the due date falls on a weekend or holiday, the deadline will be extended until the next business day.
There are several payment methods available for Terry County Property Tax. These methods include:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can make payments online through the Terry County Tax Office website using a credit card or electronic check. |
| Mail-in Payment | Property owners can also mail in their payments to the Terry County Tax Office. Checks or money orders should be made payable to "Terry County Tax Office." |
| In-person Payment | Property owners can make payments in person at the Terry County Tax Office during regular business hours. Accepted forms of payment include cash, check, or money order. |
It is important to note that if a property owner fails to pay their property taxes on time, they may face penalties and interest charges. Therefore, it is recommended that property owners make their payments on or before the January 31st deadline.
If you have more questions - contact your local tax collector.
Homestead exemptions in Terry County ?
To help homeowners in Terry County, Texas navigate their Homestead exemptions and deductions, we have compiled a list of county-specific information. Check out the table below for a breakdown of the available exemptions, eligibility requirements, maximum amounts, and any additional notes.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Residence Homestead Exemption | Must be the homeowner and use the property as their primary residence on January 1st of the tax year. | $25,000 | Applies to all taxing units |
| Disabled Person Homestead Exemption | Must be a homeowner with a disability, as defined by law, and unable to engage in gainful employment due to the disability. | $10,000 | Applies to all taxing units |
| Over 65 Homestead Exemption | Must be at least 65 years old on January 1st of the tax year. | $10,000 | Applies to all taxing units |
| Surviving Spouse Homestead Exemption | Must be a surviving spouse of a person who received an Over 65 or Disabled Person Homestead Exemption at the time of their death. | $10,000 | Applies to all taxing units |
| Optional Percentage Homestead Exemption | Must be a homestead owner on January 1st of the tax year. | Up to 20% of the property's value, as determined by the county appraisal district. | The percentage applied to the residence homestead exemption may not be applied to a taxing unit's maintenance and operations tax levy. |
| Optional Age 65 or Older or Disabled Person Homestead Exemption | Must be a homestead owner who is either 65 years or older OR disabled. | $3,000 | Applies to all taxing units |
| Optional Disabled Veteran Homestead Exemption | Must be a veteran who was disabled while serving on active duty in the US armed forces or Texas National Guard. | A dollar amount equal to the amount of the exemption for the year in which the property qualifies for the exemption. | Applies to all taxing units |
| Optional Unremarried Surviving Spouse Homestead Exemption | Must be a surviving spouse of a person who qualified for the Optional Disabled Veteran Homestead Exemption at the time of their death. | A dollar amount equal to the amount of the exemption for the year in which the property qualifies for the exemption. | Applies to all taxing units |
It's important to note that homeowners must apply for these exemptions through the Terry County Appraisal District. Exceptions to eligibility requirements and amounts may also apply in certain cases, so it's always best to reach out to your local appraisal district for more information.
We hope this information helps Terry County homeowners maximize their Homestead exemptions and deductions.
How is Terry County Property Tax penalty calculated ?
Terry County Property Tax Penalty Calculation:
When it comes to Terry County Property Tax penalty calculation, it is essential to understand how the taxes are assessed and what penalty rates are applied.
Here's an example of how the penalty for delinquent property taxes might be calculated in Terry County:
First, the county tax appraiser assesses the property's value and calculates the amount of property taxes owed. Let's say that the property owner owes $5,000 in taxes for the year.
If the property owner fails to pay by the due date, a penalty will be applied. In Terry County, the penalty rate is 6% for the first month and an additional 1% for each month thereafter.
So, for our example of a $5,000 tax bill that is one month delinquent, the penalty would be $300 (6% of $5,000). For two months delinquent, the penalty would be $360 (6% of $5,000) + (1% of $5,000) = $360.
The penalty will continue to increase each month until the taxes are paid in full or until the maximum penalty of 12% is reached. In our example, if the taxes were two months delinquent and remained unpaid for six months, the penalty would reach the maximum of 12%, resulting in a total penalty of $600.
Summary of Terry County Property Tax Penalty Calculation
| Delinquency | Penalty Rate |
|---|---|
| 1 month | 6% |
| 2 months | 7% |
| 3 months | 8% |
| 4 months | 9% |
| 5 months | 10% |
| 6 months | 11% |
| 7 months or more | 12% |
As you can see, it's crucial to pay property taxes on time to avoid penalties. Property owners in Terry County should consult with their local tax appraiser's office or a tax professional for more information on penalty rates and any other tax-related questions they may have.
We recommend contacting the Terry County Tax Office or a local tax professional for the most up-to-date and accurate information.