Average Tax Assessment in Wichita County
Real Estate Values and Property Tax Valuation in Wichita County, Texas
Wichita County has 42,630 properties with a cumulative value of $5.1B, representing 0.24% of all real estate value in Texas. Property taxes in Wichita County total $97.9M, with an average homeowner paying $2,304 in property taxes compared to the state average of $4,015. The average property tax rate in Wichita County is 1.92%, higher than the state average of 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 | |
|---|---|
| TexasFile Clerk Records | - |
| Wichita Appraisal District | (940) 322-2435 |
| Wichita Clerk | (940) 766-8195 |
| Wichita Appraiser | (620) 375-4242 |
| 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 Wichita County
Residential Property Taxes by Cities in Wichita County
Wichita County has an average property tax rate of 1.92%, 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 Wichita County are collected by the county and distributed to the cities and other local entities.
Property tax rates vary across the cities in Wichita County. Wichita Falls has the highest effective property tax rate at 2.18%, while Iowa Park has the lowest effective property tax rate at 0.56%. This means that property owners in Wichita Falls pay more in taxes than those in Iowa Park. Property taxes are an important source of revenue for local governments, and the differences in rates across the cities can have a significant impact on the amount of taxes paid by property owners.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Wichita 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 |
|---|---|---|---|---|---|
| Burkburnett | $21,080 | $54,358 | $94,939 | $158,253 | $215,882 |
| Electra | $5,939 | $15,934 | $31,771 | $61,500 | $111,901 |
| Iowa Park | $26,499 | $60,030 | $100,184 | $160,095 | $231,517 |
| Wichita Falls | $26,050 | $53,224 | $102,559 | $165,480 | $243,806 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Wichita County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burkburnett | $171 | $558 | $1,114 | $1,843 | $2,573 |
| Electra | $110 | $291 | $622 | $1,266 | $2,217 |
| Iowa Park | $129 | $321 | $574 | $907 | $1,350 |
| Wichita Falls | $389 | $1,017 | $2,054 | $3,605 | $5,653 |
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 |
|---|---|---|---|---|---|
| Burkburnett | 0.81% | 1.03% | 1.17% | 1.16% | 1.19% |
| Electra | 1.85% | 1.83% | 1.96% | 2.06% | 1.98% |
| Iowa Park | 0.49% | 0.53% | 0.57% | 0.57% | 0.58% |
| Wichita Falls | 1.49% | 1.91% | 2.00% | 2.18% | 2.32% |
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Real Estate Values in Wichita County
The data from Redfin shows that the median home price in Wichita County, Texas has increased significantly from October 2022 to October 2023, with a 51.50% increase. This indicates that the housing market in Wichita County is becoming more competitive and that home prices are rising. Additionally, the home inventory in Wichita County has increased significantly from 70 in October 2022 to 408 in October 2023, indicating that there is an increased availability of homes in the area. This suggests that the housing market in Wichita County is becoming more accessible to potential buyers.
Average Home Value in Wichita County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Wichita County
Last updated: November 2023
Percent Change in New Home Listings in Wichita County
Last updated: November 2023
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Mortgage Rates in Wichita County
Wichita County has an outstanding loan amount of $3.2 billion across home mortgages. This represents 14.8 thousand outstanding loans in the county, which is a significant portion of the total home value. The median mortgage rate in Wichita County varies across cities, with Iowa Park having the highest rate at 4.08%, and Burkburnett having the lowest rate at 3.98%. This variation in rates can be attributed to the different economic conditions in each city, as well as the availability of different loan products.
Overall, Wichita County has a large amount of outstanding loans, and the variation in rates across cities can be beneficial for borrowers looking for the best deal. It is important to compare rates and terms across lenders to ensure that you are getting the best deal possible. With the right research, borrowers can find the best mortgage rate for their needs in Wichita County.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Wichita County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burkburnett | $29,156 | $50,789 | $91,740 | $144,972 | $201,459 |
| Electra | $9,417 | $19,684 | $38,024 | $80,428 | $146,143 |
| Iowa Park | $29,786 | $50,086 | $82,249 | $132,891 | $198,896 |
| Wichita Falls | $26,762 | $50,350 | $87,880 | $146,567 | $219,844 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Wichita County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burkburnett | 2.90% | 3.50% | 3.98% | 4.70% | 6.03% |
| Electra | 2.98% | 3.50% | 4.04% | 4.91% | 6.16% |
| Iowa Park | 2.90% | 3.59% | 4.08% | 4.88% | 6.11% |
| Wichita Falls | 2.90% | 3.43% | 4.00% | 4.76% | 6.00% |
Housing Expenses in Wichita County, Texas
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