Average Tax Assessment in Crane County
Real Estate Values and Property Tax Valuation in Crane County, Texas
Crane County has 1,845 properties with a cumulative value of $130.6M, representing 0.006% of all real estate value in Texas. Property taxes in Crane County totaled $2.4M, with an average homeowner paying $1,324 in property taxes, which is lower than the state average of $4,015. The average property tax rate in Crane County is 1.82%, slightly 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 | |
|---|---|
| TexasFile Clerk Records | - |
| Important Dates | |
|---|---|
| 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 | |
|---|---|
| Early Payment Discount | |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Crane County
Residential Property Taxes by Cities in Crane County
Crane County has an average property tax rate of 1.82%, which is slightly higher than the state average of 1.79%. This rate applies to all cities in the county, with the exception of Crane, which has an effective property tax rate of 1.84%. This is slightly higher than the county average, but still lower than the state average.
Property taxes in Crane County vary across cities, with some cities having higher rates than others. For example, Crane has the highest effective property tax rate in the county, while other cities have lower rates. This means that property owners in Crane will pay more in taxes than those in other cities. However, the overall property tax rate in Crane County is still lower than the state average, making it an attractive option for property owners.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Crane 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.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crane | $7,140 | $21,330 | $53,000 | $104,480 | $160,350 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Crane County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crane | $120 | $288 | $884 | $1,917 | $3,287 |
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.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crane | 1.68% | 1.35% | 1.67% | 1.83% | 2.05% |
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Real Estate Values in Crane County
The data from Redfin does not provide information on the median home price in Crane County for October 2023 and October 2022, so it is not possible to determine the change in home price in Crane County from October 2022 to October 2023. However, the data does show that the home inventory in Crane County decreased from 18 in October 2022 to 11 in October 2023, which suggests that the demand for homes in Crane County has increased and that home prices may have increased as well.
Average Home Value in Crane County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Crane County
Last updated: November 2023
Percent Change in New Home Listings in Crane County
Last updated: November 2023
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Mortgage Rates in Crane County
Mortgages in Crane County are a significant part of the local economy, with a total outstanding loan amount of $37.0M across 349 loans. This represents a significant portion of the total home value in the county, with the median mortgage rate currently at 4.36%. This rate is consistent across the county, with no significant variation in rates between cities.
The mortgage market in Crane County is competitive, with lenders offering competitive rates and terms to borrowers. This is beneficial for homeowners, as it allows them to access the best possible rates and terms for their loan. Furthermore, the low median mortgage rate in Crane County makes it an attractive option for potential homebuyers, as they can access competitive rates without having to shop around.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Crane County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crane | $22,225 | $44,993 | $102,034 | $154,879 | $196,369 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Crane County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crane | 2.90% | 3.59% | 4.36% | 5.12% | 6.22% |
Housing Expenses in Crane County, Texas
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