Wise County Property Tax Rates
The table below shows the Wise County property tax rates per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.60 |
| City of Decatur | $0.4635 |
| City of Bridgeport | $0.5698 |
| City of Boyd | $0.5000 |
| City of Chico | $0.6100 |
| City of New Fairview | $0.2550 |
Note that property tax rates can vary depending on the specific location and other factors. It is always recommended to consult with a tax professional for individualized advice.
Example of Wise County Property Tax Calculation
Wise County Property Taxes are calculated based on the assessed value of a property. The county tax rate for the fiscal year 2021-2022 is 0.6045 cents per $100 of assessed value.
To calculate the property tax, first, the assessed value of the property is multiplied by the tax rate. For example, if the assessed value of a property is $200,000, the calculation would be as follows:
$200,000 x 0.006045 = $1,209
Therefore, the property tax for this property would be $1,209 for the fiscal year 2021-2022.
It's essential to note that Wise County offers exemptions for certain types of properties, such as homestead and disabled veteran exemptions. These exemptions can reduce the assessed value of a property, resulting in a lower property tax amount.
Overall, understanding how property taxes are calculated can help homeowners in Wise County plan and budget for their expenses effectively.
If you want appeal your property tax assessment - contact your local tax assessor.
When is Wise County Property Tax due ?
Wise County Property Tax is typically due on January 31st of each year. However, if the due date falls on a weekend or a holiday, the due date is extended to the next business day.
There are several methods of payment available for Wise County Property Tax, including:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can pay their property tax online using a credit card, debit card or e-check. |
| Mail-in Payment | Property owners can mail in their payment to the Wise County Tax Office using a check, cashier's check or money order. |
| In-Person Payment | Property owners can visit the Wise County Tax Office in person to pay their property tax using cash, check, or credit/debit card. |
It is important to note that late payments will result in penalties and interest charges, so property owners should make sure to pay their property tax on time.
If you have more questions - contact your local tax collector.
Who sets property tax rates in Wise County ?
Overview: Wise County Property Tax Rates
In Wise County, property tax rates are set by the local government authorities. These authorities include the Wise County Board of Supervisors, the Wise County Commissioner of Revenue, and the Wise County Treasurer's Office. Property tax rates are typically determined on an annual basis and are used to fund local government services, such as schools, roads, and emergency services.
Who Sets Property Tax Rates in Wise County?
The following local government authorities are responsible for setting property tax rates in Wise County:
| Authority | Role |
|---|---|
| Wise County Board of Supervisors | Determines the overall budget for the county, including property tax rates |
| Wise County Commissioner of Revenue | Assesses the value of properties in the county and provides the Wise County Board of Supervisors with recommendations for property tax rates |
| Wise County Treasurer's Office | Collects property taxes and distributes funds to the appropriate local government entities |
When Are Property Tax Rates Set in Wise County?
Property tax rates in Wise County are typically set on an annual basis. The Wise County Board of Supervisors typically approves the county's budget and property tax rates in the late spring or early summer. Property owners in Wise County can expect to receive their property tax bills in the fall, with payments due before the end of the year. It's important for property owners in Wise County to keep up with their property tax payments, as failure to pay can result in penalties and interest charges.
Homestead exemptions in Wise County ?
To see a full list of the county specific Homestead exemptions and deductions in Wise County, Texas, please refer to the table below.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Residence Homestead Exemption | Any individual who owns and occupies their primary residence in Wise County | $25,000 for school taxes | N/A |
| County Tax Ceiling | Any individual who qualifies for the General Residence Homestead Exemption | Limits the amount of increase in property taxes for county purposes | N/A |
| Over 65 or Disabled Person Homestead Exemption | Any individual over 65 years old or disabled who owns and occupies their primary residence in Wise County | $10,000 for school taxes, $3,000 for county taxes | Must provide proof of age/disability |
| Disabled Veteran Homestead Exemption | Any veteran with a service-connected disability rating of at least 10% who owns and occupies their primary residence in Wise County | Amount varies depending on disability rating | Must provide proof of disability rating and honorable discharge |
| Surviving Spouse of a Disabled Veteran Homestead Exemption | Any surviving spouse of a veteran who would have qualified for the Disabled Veteran Homestead Exemption | Amount varies depending on disability rating | Must provide proof of marriage and spouse's disability rating |
| Donated Historic Structure Exemption | Any individual who owns a designated historic structure in Wise County that meets certain criteria | Exemption varies depending on the value of the property and the amount donated to the historic preservation fund | Must apply for exemption and meet certain criteria |
| Agricultural Use Exemption | Any individual who uses their property for agricultural purposes in Wise County | Varies depending on the type of property and its value | Must apply for exemption and meet certain criteria |
Please note that eligibility requirements and exemption amounts are subject to change. It is recommended that individuals consult with the Wise County Appraisal District or a qualified real estate attorney for the most up-to-date information.
How is Wise County Property Tax penalty calculated ?
Wise County Property Tax Penalty Calculation
When a property owner in Wise County fails to pay their property taxes on time, they will incur a penalty. The penalty is calculated based on the amount of taxes owed and the length of time the payment is overdue.
Here is an example of how the penalty is calculated:
| Scenario | Amount Owed | Penalty Rate | Penalty Amount |
|---|---|---|---|
| 1 year late | $5,000 | 6% | $300 |
| 2 years late | $5,000 | 12% | $600 |
| 3 years late | $5,000 | 18% | $900 |
In the above table, if a property owner is one year late on paying their $5,000 property tax bill, they will incur a penalty rate of 6%. This means they will owe an additional $300 in penalties on top of the $5,000 owed in taxes. If they are two years late, the penalty rate increases to 12%, resulting in a penalty of $600. If they are three years late, the penalty rate increases to 18%, resulting in a penalty of $900.
It's important to note that the penalty continues to increase by 6% each year the payment is overdue, up to a maximum penalty rate of 36%.
To avoid penalties, it's crucial for Wise County property owners to pay their property taxes on time. If they are unable to make the full payment, they may be eligible for a payment plan or other options to avoid penalties and interest.
We recommend contacting the Wise County Tax Office or a local tax professional for the most up-to-date and accurate information.