Lott, Texas Property Taxes
Real Estate Values and Property Tax Valuation in Lott, Texas
The city of Lott has 884 properties with a cumulative value of $94.1M, representing 16.55% of all real estate value in Falls County. Property taxes in Lott totaled $1.4M, with an average homeowner paying $1,642 in taxes compared to the county average of $1,462. The average property tax rate in Lott is 1.54%, lower than the county average of 1.74%. Property taxes are based on the assessed value of the property, which is determined by the local tax assessor.
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 August 23, 2023
| Important Links | |
|---|---|
| Falls Appraisal District | (254) 883-2543 |
| 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 Lott, Texas
Residential Property Tax by ZIP code in Lott, Texas
Property taxes in Lott, Texas are relatively low compared to the rest of Falls County. The average property tax rate in Lott is 1.54%, while the average Falls County property tax rate is 1.74%. This difference is likely due to the fact that the median home value in Lott is lower than the median home value in Falls County.
Property tax rates in Lott vary across ZIP codes, with the highest effective property tax rate being 1.54% in the 76656 ZIP code. This is likely due to the fact that home values in this ZIP code are higher than in other ZIP codes in Lott. The lowest effective property tax rate in Lott is not available, but it is likely lower than the average property tax rate in Lott.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each ZIP code in Lott, Texas. 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.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76656 | $14,106 | $29,565 | $63,400 | $131,605 | $224,781 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each ZIP code in Lott, Texas.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76656 | $244 | $563 | $1,180 | $2,170 | $3,598 |
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.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76656 | 1.73% | 1.90% | 1.86% | 1.65% | 1.60% |
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Real Estate Values in Lott, Texas
Average Home Value in Lott, Texas
Last updated: August 2023
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Housing Expenses in Lott, Texas
Housing expenses are a major part of the average household budget in the state. In fact, housing expenses account for nearly one-third of total expenses for the average household. As inflation continues, housing expenses continue to rise, eating up an ever-increasing portion of the household budget. Property taxes are the second largest component of housing expenses for the average property owner in the state, making up a significant portion of the total housing expenses. As housing expenses continue to rise, it is important for households to budget carefully and plan for the future to ensure they can afford their housing expenses.
Monthly Consumer Expenses for South region
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