Average Tax Assessment in Terry County
Real Estate Values and Property Tax Valuation in Terry County, Texas
Terry County has a total of 4,138 properties with a cumulative value of $262.0M. This represents 0.01% of all real estate value in Texas. Property taxes in Terry County totaled $6.5M, with an average property tax rate of 2.46%, which is higher than the state average of 1.69%. The average homeowner in Terry County pays $1,642 in property taxes, which is significantly lower than the state average of $4,015. 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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TexasFile Clerk Records | - |
Terry Appraisal District | (806) 637-6966 |
Terry Clerk | (806) 637-8551 |
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 Terry County
Residential Property Taxes by Cities in Terry County
Terry County has an average property tax rate of 2.46%, which is slightly lower than the state average of 2.48%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average property tax bill in Terry County is $1,642.
Property tax rates vary across the cities in Terry County. Brownfield has the highest effective property tax rate at 2.54%, while Meadow has the lowest effective property tax rate at 1.82%. This means that property owners in Brownfield will pay more in taxes than those in Meadow. However, the difference in rates is relatively small, so the overall impact on property taxes is minimal.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Terry 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 |
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Brownfield | $3,003 | $8,934 | $35,014 | $100,826 | $151,279 |
Meadow | $2,522 | $7,318 | $37,618 | $112,340 | $163,178 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Terry County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Brownfield | $75 | $217 | $918 | $2,655 | $4,074 |
Meadow | $43 | $153 | $682 | $2,520 | $3,649 |
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 |
---|---|---|---|---|---|
Brownfield | 2.50% | 2.43% | 2.62% | 2.63% | 2.69% |
Meadow | 1.70% | 2.09% | 1.81% | 2.24% | 2.24% |
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Real Estate Values in Terry County
The median home price in Terry County, Texas has remained steady from October 2022 to October 2023, with the median home price in October 2022 being $173.8K. The home inventory in Terry County has also increased slightly from 27 in October 2022 to 28 in October 2023. This indicates that the housing market in Terry County is stable and that there is a healthy supply of homes available for purchase.
Average Home Value in Terry County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Terry County
Last updated: November 2023
Percent Change in New Home Listings in Terry County
Last updated: November 2023
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Mortgage Rates in Terry County
There are currently no outstanding home mortgage loans in Terry County. This is likely due to the fact that the county has a relatively low median home value compared to other counties in the area. The median home value in Terry County is around $150,000, which is significantly lower than the median home value in other counties. This means that the amount of money needed to purchase a home in Terry County is much lower than in other counties, and thus, there is less demand for home mortgage loans.
The median mortgage rate in Terry County varies greatly from county to county. The city with the highest median mortgage rate is currently unknown, but the city with the lowest median mortgage rate is estimated to be around 4.5%. This is significantly lower than the median mortgage rate in other counties, which can range from 5-7%. This variation in rates across counties is likely due to the fact that the median home value in Terry County is much lower than in other counties. This means that lenders are willing to offer lower rates in order to attract potential borrowers.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Terry County by city.
We currently do not have this data but we are working to add this soon.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Terry County.
We currently do not have this data but we are working to add this soon.
Housing Expenses in Terry County, Texas
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