Example of Tom Green County Property Tax Calculation
Tom Green County Property Tax Calculation: An Example
Tom Green County, located in Texas, imposes property taxes on all its residents. These taxes are used to fund various county services, such as schools, roads, and public safety. Let's take a look at an example of how Tom Green County calculates property tax.
Assuming a home is worth $200,000, the property tax calculation would be as follows:
-
Determine the assessed value: In Texas, the assessed value of a property is based on the market value, which is determined by the county appraisal district. The assessed value is calculated as a percentage of the market value. For Tom Green County, the assessed value is 100% of the market value. Therefore, in this example, the assessed value of the home would be $200,000.
-
Apply the tax rate: The tax rate for Tom Green County is set by the county commissioners' court. As of 2021, the tax rate is 0.5347%. To calculate the property tax, this percentage is multiplied by the assessed value of the property. In this example, the property tax would be:
$200,000 x 0.005347 = $1,069.40
Therefore, the property tax for a $200,000 home in Tom Green County would be $1,069.40.
It is important to note that other factors, such as exemptions, may affect the final property tax amount. However, this example provides a basic understanding of how property taxes are calculated in Tom Green County.
If you want appeal your property tax assessment - contact your local tax assessor.
Tom Green County Property Tax Rates
The Tom Green County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Tom Green County | $0.431900 |
| City of San Angelo | $0.776182 |
| San Angelo ISD | $1.230000 |
| Howard College | $0.178700 |
| Water Control and Improvement District | $0.010000 |
These rates are subject to change and may vary depending on the assessed value of the property. It is recommended to consult with a tax advisor for specific information regarding your property taxes in Tom Green County.
Who sets property tax rates in Tom Green County ?
Who sets property tax rates in Tom Green County?
The Tom Green County Commissioners Court is responsible for setting the property tax rates in the county. The Commissioners Court is made up of five elected officials who are responsible for governing the county.
When are the property tax rates set in Tom Green County?
The property tax rates in Tom Green County are set annually by the Commissioners Court. The court typically holds public hearings in August or September to set the tax rates for the upcoming fiscal year.
How are property tax rates determined in Tom Green County?
The property tax rates in Tom Green County are determined based on the budget needs of the county. The Commissioners Court reviews the proposed budget for the upcoming fiscal year and determines the tax rate necessary to fund it.
The tax rate is then broken down into two parts: the maintenance and operations (M&O) tax rate and the debt service tax rate. The M&O rate is used to fund the day-to-day operations of the county, while the debt service rate is used to pay off any outstanding bonds or debt.
Once the tax rate is set, property owners in Tom Green County receive their tax bills and are required to pay the amount due by January 31st of the following year.
Homestead exemptions in Tom Green County ?
When it comes to Homestead exemptions and deductions in Tom Green County, Texas, there are a variety of options available to eligible residents. To help clarify these options, here is a breakdown of the county-specific exemptions and deductions, organized into a table format:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead | Any homeowner who uses the property as their primary residence | N/A | This exemption provides a reduction in taxes for the property, with a cap on the amount of value that can be exempted. |
| Over 65 | Homeowners who are 65 years or older | $10,000 | This exemption is in addition to the General Homestead exemption and provides an extra reduction in taxes for those who qualify. |
| Disability | Homeowners who have a qualifying disability | $10,000 | Similarly to the Over 65 exemption, this exemption provides an extra reduction on top of the General Homestead exemption. |
| Disabled Veteran | Veterans who were disabled during their service and their surviving spouse | Varies | This exemption provides a reduction in taxes based on the level of disability the veteran has, and the amount of value exempted varies depending on the level of disability. |
| Agricultural | Property owners who use their land for agricultural purposes | N/A | This exemption provides a reduction in taxes for properties that are classified as agricultural, with specific requirements for the amount of land and income generated from farming. |
| Wildfire | Property owners who were affected by a wildfire | N/A | This exemption provides a reduction in taxes for those who were impacted by a wildfire, with specific requirements for the level of damage and amount of time since the event. |
It's important to note that eligibility requirements and amount of value exempted can change over time, and it's always best to consult with a tax professional or the Tom Green County Appraisal District to ensure that you're taking advantage of all the exemptions and deductions available to you.
When is Tom Green County Property Tax due ?
Tom Green County Property Tax Due Date and Payment Methods
Property taxes in Tom Green County are typically due on January 31st of each year. The due date may vary slightly if January 31st falls on a weekend or holiday.
There are several payment methods available for property owners in Tom Green County. These payment methods include:
-
In-person: Property owners can pay their property taxes in person at the Tom Green County Tax Office, located at 113 W. Beauregard Ave., San Angelo, TX 76903. Cash, check, and credit card payments are accepted.
-
By mail: Property owners can mail their property tax payments to the Tom Green County Tax Office at P.O. Box 2810, San Angelo, TX 76902. Payments must be postmarked by the due date to avoid penalties.
-
Online: Property owners can pay their property taxes online through the Tom Green County Tax Office website. Online payments can be made using a checking account, savings account, or credit card.
It is important to note that failure to pay property taxes by the due date can result in penalties and interest charges. Property owners should make sure to pay their property taxes on time to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Tom Green County Property Tax penalty calculated ?
Tom Green County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, they will incur penalties and interest charges. In Tom Green County, the penalty for late payment is calculated based on a percentage of the amount of taxes owed.
The penalty is calculated as follows:
- 6% of the amount of taxes owed if paid after January 31st but before April 1st
- 7% of the amount of taxes owed if paid after March 31st but before June 1st
- 8% of the amount of taxes owed if paid after May 31st but before August 1st
- 9% of the amount of taxes owed if paid after July 31st but before November 1st
- 10% of the amount of taxes owed if paid after October 31st
For example, if a property owner owes $2,000 in property taxes and fails to make a payment until after April 1st, they will be assessed a penalty of $120 (6% of $2,000).
It is important for property owners to pay their property taxes on time to avoid incurring penalties and interest charges. If a property owner is unable to pay their taxes in full, they should contact the Tom Green County Tax Assessor's Office to discuss payment plan options.
We recommend contacting the Tom Green County Tax Office or a local tax professional for the most up-to-date and accurate information.