Average Tax Assessment in Wood County
Real Estate Values and Property Tax Valuation in Wood County, Texas
Wood County has a total of 20,829 properties with a cumulative value of $3.1B, representing 0.14% of all real estate value in Texas. The average property tax rate in Wood County is 0.92%, which is lower than the state average of 1.69%. Property taxes in Wood County total $28.3M, with the average homeowner paying $1,412 in property taxes compared to the state average of $4,015. 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 | |
|---|---|
| Wood Appraisal District | (903) 763-4891 |
| Wood Clerk | (903) 763-2711 |
| TexasFile Clerk Records | - |
| Wood Property Lister | (715) 421-8488 |
| 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 Wood County
Residential Property Taxes by Cities in Wood County
Wood County has an average property tax rate of 0.92%, which is lower than the state average of 1.19%. This makes Wood County an attractive place to live for those looking to save on property taxes. However, there is still a wide range of effective property tax rates across the cities in Wood County. The city of Hawkins has the highest effective property tax rate at 1.3%, while the city of Mineola has the lowest effective property tax rate at 0.51%. This means that homeowners in Hawkins will pay more than double the amount of property taxes than homeowners in Mineola. Therefore, it is important for potential homeowners to research the effective property tax rate of the city they are considering before making a decision.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Wood 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 |
|---|---|---|---|---|---|
| Alba | $9,472 | $38,725 | $105,550 | $210,175 | $349,446 |
| Hawkins | $8,520 | $37,272 | $95,585 | $174,325 | $275,850 |
| Holly Lake Ranch | $112,320 | $138,155 | $182,780 | $237,095 | $302,930 |
| Mineola | $12,026 | $51,850 | $124,200 | $197,175 | $288,052 |
| Quitman | $8,507 | $31,505 | $92,125 | $177,050 | $285,453 |
| Winnsboro | $18,431 | $55,325 | $113,990 | $196,838 | $298,926 |
| Yantis | $5,300 | $19,005 | $113,685 | $306,330 | $493,399 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Wood 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.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alba | 0.81% | 0.80% | 0.95% | 1.04% | 1.00% |
| Hawkins | 1.06% | 1.11% | 1.30% | 1.42% | 1.43% |
| Holly Lake Ranch | 0.69% | 0.96% | 1.10% | 1.22% | 1.29% |
| Mineola | 0.48% | 0.40% | 0.37% | 0.44% | 0.62% |
| Quitman | 1.00% | 0.78% | 1.03% | 1.15% | 1.16% |
| Winnsboro | 0.56% | 0.78% | 1.05% | 1.14% | 1.15% |
| Yantis | 1.13% | 0.93% | 0.83% | 0.95% | 1.07% |
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Real Estate Values in Wood County
The data from Redfin shows that home prices in Wood County, Texas have decreased by 28.22% from October 2022 to October 2023. This indicates that the housing market in Wood County has cooled off significantly over the past year. Additionally, the home inventory in Wood County has increased by nearly 50%, suggesting that there is more supply than demand in the area. This could be due to a variety of factors, such as an increase in new construction or a decrease in demand due to economic uncertainty.
Average Home Value in Wood County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Wood County
Last updated: November 2023
Percent Change in New Home Listings in Wood County
Last updated: November 2023
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Mortgage Rates in Wood County
Wood County has a total of $627.8M in outstanding home mortgage loans, representing 4.9K loans. This amount is equivalent to approximately 8.5% of the total home value in the county. The median mortgage rate in Wood County varies significantly across cities, with Alba having the highest rate at 4.17%, and Quitman having the lowest rate at 4.02%. This variation in rates can be attributed to the different economic conditions in each city, as well as the availability of lenders in the area.
Overall, Wood County has a relatively high amount of outstanding home mortgage loans, and the variation in rates across cities can be a great benefit to potential borrowers. Those looking to purchase a home in Wood County should take the time to research the different mortgage rates available in the area, as this could potentially save them a significant amount of money in the long run.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Wood County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alba | $27,012 | $58,361 | $113,039 | $171,618 | $259,590 |
| Hawkins | $24,894 | $53,137 | $91,623 | $145,214 | $228,549 |
| Holly Lake Ranch | $43,474 | $67,012 | $108,497 | $152,133 | $217,237 |
| Mineola | $26,692 | $57,412 | $100,279 | $163,789 | $247,572 |
| Quitman | $14,190 | $43,600 | $84,229 | $154,136 | $224,414 |
| Winnsboro | $24,105 | $47,932 | $89,835 | $150,327 | $231,640 |
| Yantis | $22,010 | $50,940 | $111,170 | $222,014 | $344,059 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Wood County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alba | 2.99% | 3.56% | 4.17% | 4.91% | 6.15% |
| Hawkins | 2.90% | 3.50% | 4.03% | 4.81% | 6.09% |
| Holly Lake Ranch | 2.90% | 3.50% | 4.03% | 4.60% | 6.00% |
| Mineola | 2.90% | 3.54% | 4.05% | 4.83% | 6.10% |
| Quitman | 2.99% | 3.56% | 4.02% | 4.69% | 6.01% |
| Winnsboro | 3.00% | 3.60% | 4.12% | 4.80% | 6.18% |
| Yantis | 2.90% | 3.54% | 4.09% | 4.90% | 6.09% |
Housing Expenses in Wood County, Texas
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