Average Tax Assessment in Martin County
Real Estate Values and Property Tax Valuation in Martin County, Texas
Martin County has 1,638 properties with a cumulative value of $152.2M, representing 0.007% of all real estate value in Texas. Property taxes in Martin County totaled $475.8K, with an average homeowner paying $293 in property taxes compared to the state average of $4,015. The average property tax rate in Martin County is 0.31%, while the state average is 1.69%. Property values for tax purposes are 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 | |
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Martin Appraisal District | (432) 756-2823 |
TexasFile Clerk Records | - |
Martin Clerk / Recorder | (772) 288-5576 |
Martin Assessor | (507) 238-3210 |
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 Martin County
Residential Property Taxes by Cities in Martin County
Martin County has an average property tax rate of 0.31%, which is lower than the national average of 1.07%. This rate is consistent across all cities in the county, with Stanton having the highest effective property tax rate of 0.31%. This rate is lower than the average property tax rate in the state of Texas, which is 1.83%.
Property taxes in Martin County are relatively low compared to other counties in the state. This is due to the fact that the county has a low population density and a relatively low cost of living. Property taxes in the county are also relatively consistent across all cities, with Stanton having the highest effective property tax rate of 0.31%. This rate is still lower than the average property tax rate in the state of Texas.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Martin 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 |
---|---|---|---|---|---|
Stanton | $14,990 | $29,455 | $55,770 | $111,150 | $189,290 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Martin County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Stanton | $49 | $97 | $183 | $345 | $584 |
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 |
---|---|---|---|---|---|
Stanton | 0.33% | 0.33% | 0.33% | 0.31% | 0.31% |
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Real Estate Values in Martin County
The data from Redfin shows that the median home price in Martin County has not changed from October 2022 to October 2023. However, the home inventory in Martin County has decreased from 15 in October 2022 to 5 in October 2023. This suggests that the demand for homes in Martin County has increased, leading to a decrease in the available inventory. This trend is likely reflective of the overall housing market in Texas, where demand for homes is increasing and home prices are rising.
Average Home Value in Martin County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Martin County
Last updated: November 2023
Percent Change in New Home Listings in Martin County
Last updated: November 2023
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Mortgage Rates in Martin County
Mortgages in Martin County are currently at a total outstanding loan amount of $50.2 million. This represents a significant portion of the total home value in the county, as 326 loans are currently outstanding. The median mortgage rate in Martin County varies across cities, with Stanton having the highest rate at 4.14%. This rate is slightly higher than the average rate for the county, which is 3.95%. This variation in rates across cities shows that there is a wide range of options for potential homebuyers in Martin County.
Overall, mortgages in Martin County are a viable option for potential homebuyers. With a total outstanding loan amount of $50.2 million and 326 loans currently outstanding, the county is a great place to look for a mortgage. Furthermore, the variation in rates across cities shows that there is a wide range of options for potential homebuyers in Martin County. With the right research and guidance, potential homebuyers can find the perfect mortgage for their needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Martin County by city.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Stanton | $35,160 | $73,624 | $128,798 | $206,648 | $275,050 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Martin County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Stanton | 2.99% | 3.56% | 4.14% | 4.91% | 6.09% |
Housing Expenses in Martin County, Texas
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