Average Tax Assessment in Castro County
Real Estate Values and Property Tax Valuation in Castro County, Texas
Castro County has a total of 2,480 properties with a cumulative value of $153.9M, representing 0.007% of all real estate value in Texas. Property taxes in Castro County totaled $3.1M, with an average homeowner paying $1,270 in property taxes compared to the state average of $4,015. The average property tax rate in Castro County is 2.03%, higher than the state average of 1.69%. Properties are typically valued for tax purposes based on their market value.
The property tax timeline in Texas begins on January 1st, when the property valuation date is set. Property value notices are issued between April and May, and the property tax appeal deadline is May 15th or 30 days after the notices are issued. The real property tax bill is due on January 31st for the preceding year's gross tax bills.
Updated November 01, 2023
Important Links | |
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Castro Clerk | (806) 647-3338 |
TexasFile Clerk Records | - |
Important Dates | |
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Real Property Tax Bill Due (1st of #): | January 31st, Gross tax bills for preceding year |
Property Valuation Date: | January 1st |
Property Value Notices Issued: | April - May |
Property Tax Appeal Deadline: | May 15th or 30 days after notices are issued |
Property Tax Bills Issued: | October 1st |
Available Exemptions | |
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Early Payment Discount | |
Senior | Available |
Disabled | Available |
Homestead | Available |
Veteran | Available |
Solar/Wind | Available |
Charitable | Available |
Don't Miss Your Property Tax Appeal Deadline
Real Estate Statistics in Castro County
Residential Property Taxes by Cities in Castro County
Castro County has an average property tax rate of 2.03%, which is slightly lower than the state average of 2.06%. This rate applies to all properties in the county, regardless of their location. However, the effective property tax rate can vary significantly from city to city. The city of Dimmitt has the highest effective property tax rate in the county at 2.26%, while the city of Nazareth has the lowest effective property tax rate at 1.85%. This means that property owners in Dimmitt will pay more in taxes than those in Nazareth.
Overall, Castro County has a relatively low property tax rate compared to other counties in the state. However, it is important to note that the effective property tax rate can vary significantly from city to city. Property owners should be aware of the differences in rates when considering where to purchase a home or business.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Castro County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Castro County.
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
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Real Estate Values in Castro County
The data from Redfin shows that the median home price in Castro County, Texas has increased significantly from October 2022 to October 2023, with a 129.41% increase. This indicates that the housing market in Castro County is experiencing a strong surge in demand, likely due to the area's attractive amenities and growing population. Additionally, the home inventory in Castro County has more than doubled from October 2022 to October 2023, indicating that there is an ample supply of homes available for purchase. Overall, the data from Redfin suggests that the housing market in Castro County is experiencing a strong period of growth.
Average Home Value in Castro County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Castro County
Last updated: November 2023
Percent Change in New Home Listings in Castro County
Last updated: November 2023
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Mortgage Rates in Castro County
Mortgages in Castro County are a significant part of the local economy, with a total outstanding loan amount of $38.9 million across 349 loans. This represents a significant portion of the total home value in the county, and shows the importance of home ownership in the area.
The median mortgage rate in Castro County varies across cities, with the highest rate in Dimmitt at 4.46%, and the lowest rate in Nazareth at 4.27%. This variation in rates across cities shows that there are different opportunities for potential homeowners to find the best deal for their needs. With such a large amount of outstanding loans, it is clear that mortgages are an important part of the local economy in Castro County.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Castro County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Castro County.
Housing Expenses in Castro County, Texas
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