Average Tax Assessment in Lipscomb County
Real Estate Values and Property Tax Valuation in Lipscomb County, Texas
Lipscomb County has 1,503 properties with a cumulative value of $58.6M, representing 0.003% of all real estate value in Texas. Property taxes in Lipscomb County totaled $1.5M, with an average homeowner paying $1,040 in property taxes compared to the state average of $4,015. The average property tax rate in Lipscomb County is 2.57%, higher than the state average of 1.69%. Property taxes are calculated 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.
Updated November 01, 2023
Important Links | |
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Lipscomb Appraisal District | (806) 624-2881 |
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 |
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Real Estate Statistics in Lipscomb County
Residential Property Taxes by Cities in Lipscomb County
Lipscomb County has an average property tax rate of 2.57%, which is slightly lower than the state average of 2.62%. Property taxes in Lipscomb County are collected at the county level and are used to fund local services such as schools, roads, and public safety. Property taxes in Lipscomb County vary across cities, with Booker having the highest effective property tax rate of 2.88%, and Follett having the lowest effective property tax rate of 2.46%. This means that property owners in Booker will pay more in property taxes than those in Follett. Property taxes in Lipscomb County are generally lower than the state average, making it an attractive place to live for those looking for a lower tax burden.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Lipscomb 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 Lipscomb 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 Lipscomb County
The data from Redfin indicates that there is no change in median home price in Lipscomb County from October 2022 to October 2023. However, there has been a significant decrease in home inventory in the county, from 9 in October 2022 to 3 in October 2023. This suggests that the demand for homes in Lipscomb County is increasing, which could lead to an increase in home prices in the future.
Average Home Value in Lipscomb County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Lipscomb County
Last updated: November 2023
Percent Change in New Home Listings in Lipscomb County
Last updated: November 2023
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Mortgage Rates in Lipscomb County
Mortgages in Lipscomb County are a major factor in the local economy. According to recent statistics, there is a total of $9.6 million in outstanding loans across the county. This represents an average of 120 loans, or about 0.2% of the total home value in the county. The median mortgage rate in Lipscomb County varies significantly across cities, with Follett having the highest rate at 4.08%, and Booker having the lowest rate at 3.98%. This variation in rates can have a significant impact on the affordability of housing in the county, and can be a major factor in determining where people choose to live. Overall, mortgages in Lipscomb County are an important part of the local economy, and the variation in rates across cities can have a major impact on the affordability of housing.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Lipscomb County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Lipscomb County.
Housing Expenses in Lipscomb County, Texas
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