Average Tax Assessment in Hamilton County

Hamilton County has 3,809 properties with a cumulative value of $534.4M, representing 0.03% of all real estate value in Texas. Property taxes in Hamilton County totaled $5.0M, with an average homeowner paying $1,516 in property taxes, which is significantly lower than the state average of $4,015. The average property tax rate in Hamilton County is 0.93%, while the state average is 1.69%. Property taxes are based on the assessed value of the property, which is typically lower than the 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.

Hamilton County has an average property tax rate of 0.93%, which is lower than the state average of 1.04%. This means that homeowners in Hamilton County pay less in property taxes than the average homeowner in Texas. The city with the highest effective property tax rate is Hico, at 1.06%, while the city with the lowest effective property tax rate is Hamilton, at 1.04%. This means that homeowners in Hico pay slightly more in property taxes than the average homeowner in Hamilton County, while homeowners in Hamilton pay slightly less.

Overall, property taxes in Hamilton County are relatively low compared to the rest of the state. However, there is still some variation in property tax rates across the cities in the county, with Hico having the highest rate and Hamilton having the lowest. This means that homeowners should be aware of the property tax rate in their city when considering buying a home in Hamilton County.

Home prices in Hamilton County, Texas have remained relatively stable over the past year, with the median home price in October 2022 being $190.0K and no change in the median home price in October 2023. The home inventory in Hamilton County has also increased from 42 in October 2022 to 53 in October 2023, indicating a slight increase in the availability of homes in the area. This suggests that the housing market in Hamilton County is stable and that home prices are likely to remain steady in the near future.

Mortgages in Hamilton County are a major part of the local economy, with a total of $46.4 million in outstanding loan amounts across home mortgages. This represents 457 outstanding loans, which is a significant portion of the total home value in the county. The median mortgage rate in Hamilton County varies across cities, with Hamilton having the highest median rate at 3.94%, and Hico having the lowest at 3.9%. This variation in rates across counties allows potential homebuyers to find the best rate for their needs.

Overall, mortgages in Hamilton County are an important part of the local economy, with a significant amount of outstanding loans and a wide range of rates. This allows potential homebuyers to find the best rate for their needs, while also providing a boost to the local economy.