Average Tax Assessment in Lubbock County
Real Estate Values and Property Tax Valuation in Lubbock County, Texas
Lubbock County has a total of 101,875 properties with a cumulative value of $16.7B. This accounts for 0.79% of all real estate value in Texas. Property taxes in Lubbock County totaled $313.6M, with an average homeowner paying $3,118 in property taxes compared to the state average of $4,015. The average property tax rate in Lubbock County is 1.87%, higher than the state average of 1.69%. Properties are valued for tax purposes based on their market value, which is determined by the local appraisal district.
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 | |
|---|---|
| City of Lubbock Mapping/GIS | - |
| Lubbock Appraisal District | (806) 762-5000 |
| 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 Lubbock County
Residential Property Taxes by Cities in Lubbock County
Lubbock County has an average property tax rate of 1.87%, which is slightly lower than the state average of 2.06%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Lubbock County are collected by the county and distributed to the various cities and school districts.
Property tax rates vary across the cities in Lubbock County. The city with the highest effective property tax rate is Wolfforth, at 2.16%, while the city with the lowest effective property tax rate is Abernathy, at 0.46%. This means that property owners in Wolfforth will pay more in taxes than those in Abernathy. Property taxes are an important source of revenue for local governments, and the variation in rates across the cities in Lubbock County reflects the different needs and priorities of each municipality.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Lubbock 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 |
|---|---|---|---|---|---|
| Abernathy | $29,180 | $53,260 | $107,392 | $175,116 | $282,944 |
| Idalou | $38,973 | $78,913 | $144,576 | $237,406 | $350,719 |
| Lubbock | $39,153 | $83,676 | $145,952 | $206,001 | $309,981 |
| New Deal | $4,912 | $9,550 | $34,545 | $83,666 | $144,389 |
| Ransom Canyon | $170,751 | $208,022 | $264,303 | $351,126 | $449,737 |
| Shallowater | $10,558 | $30,000 | $127,281 | $247,725 | $366,514 |
| Slaton | $10,794 | $29,798 | $63,708 | $127,264 | $186,854 |
| Wolfforth | $14,506 | $34,618 | $144,646 | $249,612 | $347,113 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Lubbock County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abernathy | $81 | $186 | $364 | $689 | $1,310 |
| Idalou | $456 | $1,130 | $2,331 | $4,080 | $6,153 |
| Lubbock | $487 | $1,343 | $2,689 | $4,095 | $6,246 |
| New Deal | $51 | $152 | $446 | $1,469 | $2,418 |
| Ransom Canyon | $3,261 | $4,059 | $5,392 | $7,623 | $9,644 |
| Shallowater | $123 | $452 | $2,103 | $4,782 | $7,181 |
| Slaton | $157 | $434 | $1,030 | $1,982 | $3,354 |
| Wolfforth | $175 | $811 | $2,862 | $5,650 | $8,534 |
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 |
|---|---|---|---|---|---|
| Abernathy | 0.28% | 0.35% | 0.34% | 0.39% | 0.46% |
| Idalou | 1.17% | 1.43% | 1.61% | 1.72% | 1.75% |
| Lubbock | 1.24% | 1.61% | 1.84% | 1.99% | 2.01% |
| New Deal | 1.04% | 1.59% | 1.29% | 1.76% | 1.67% |
| Ransom Canyon | 1.91% | 1.95% | 2.04% | 2.17% | 2.14% |
| Shallowater | 1.16% | 1.51% | 1.65% | 1.93% | 1.96% |
| Slaton | 1.45% | 1.46% | 1.62% | 1.56% | 1.79% |
| Wolfforth | 1.21% | 2.34% | 1.98% | 2.26% | 2.46% |
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Real Estate Values in Lubbock County
The median home price in Lubbock County, Texas has decreased slightly from October 2022 to October 2023, by 0.37%. This is in line with the overall trend in Texas, where home prices have been relatively stable over the past year. The home inventory in Lubbock County has also increased, from 1.1K in October 2022 to 1.4K in October 2023, indicating that there is more housing available for potential buyers.
Average Home Value in Lubbock County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Lubbock County
Last updated: November 2023
Percent Change in New Home Listings in Lubbock County
Last updated: November 2023
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Mortgage Rates in Lubbock County
Mortgages in Lubbock County are a major part of the local economy, with a total outstanding loan amount of $6.6 billion. This represents a significant portion of the total home value in the county, with 40.7 thousand outstanding loans. The median mortgage rate in Lubbock County varies across cities, ranging from 3.83% in Wolfforth to 4.05% in Abernathy. This variation in rates is indicative of the competitive nature of the mortgage market in the county, with lenders competing to offer the best rates to potential borrowers. Overall, mortgages in Lubbock County are an important part of the local economy, with a significant amount of outstanding loans and a wide range of rates available.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Lubbock County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abernathy | $20,645 | $49,237 | $98,907 | $166,577 | $238,647 |
| Idalou | $40,562 | $66,617 | $109,129 | $181,080 | $277,730 |
| Lubbock | $46,306 | $76,171 | $123,972 | $185,558 | $273,401 |
| New Deal | $25,245 | $50,823 | $72,623 | $119,789 | $172,955 |
| Ransom Canyon | $80,341 | $119,483 | $179,177 | $241,560 | $337,989 |
| Shallowater | $46,037 | $81,471 | $155,791 | $234,640 | $312,233 |
| Slaton | $24,838 | $46,607 | $79,825 | $137,584 | $212,146 |
| Wolfforth | $54,129 | $105,686 | $168,791 | $246,877 | $324,345 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Lubbock County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abernathy | 2.90% | 3.22% | 4.05% | 4.97% | 6.20% |
| Idalou | 2.90% | 3.43% | 3.99% | 4.76% | 5.88% |
| Lubbock | 2.90% | 3.30% | 3.92% | 4.50% | 5.50% |
| New Deal | 3.00% | 3.66% | 3.99% | 4.37% | 5.14% |
| Ransom Canyon | 2.90% | 3.38% | 3.90% | 4.50% | 5.53% |
| Shallowater | 2.90% | 3.30% | 3.92% | 4.50% | 5.50% |
| Slaton | 2.93% | 3.50% | 3.99% | 4.75% | 6.06% |
| Wolfforth | 2.80% | 3.12% | 3.83% | 4.50% | 5.25% |
Housing Expenses in Lubbock County, Texas
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