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Penelope, Hill County, Texas Property Taxes

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Property Taxes in Penelope, Texas

  • Median Penelope, Texas effective property tax rate: 1.19%, significantly lower than the national median of 1.02%, and lower than the Texas state median of 1.48%.

  • Median Penelope, Texas home value: $95,750

  • Median annual Penelope, Texas tax bill: $891, lower than the national median property tax bill of $2,400.

How are property taxes in Hill calculated?

Property taxes in Penelope, Texas are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Penelope's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Penelope, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Penelope, Hill County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.19%

Estimate Property Tax Bill

$1,139

$1,057

SAVE WITH OWNWELL

$774

Average Annual Tax Savings

How Does the Penelope Property Tax Calculator Work?

Use this Penelope property tax calculator to estimate your annual tax bill. Enter your property's assessed value and our calculator applies Penelope's median effective tax rate of 1.19% — based on actual property records in Hill County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Penelope's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Penelope: rates range from 1.19% in 76676 to 1.19% in 76676, primarily due to differences in school district levies and local assessment districts.

If your estimate is higher than expected, Ownwell can appeal your Penelope assessment — you only pay if we save you money.

About Penelope Property Taxes

About Property Taxes in Penelope, Hill, Texas

Penelope’s median effective property tax rate of 1.19% is lower than the Texas state median of 1.48% and higher than the national median of 1.02%. This rate reflects Hill County’s local tax structure, where assessed values and taxing jurisdictions shape what homeowners pay each year.

Property tax rates are not uniform across Penelope. In this city, the highest and lowest median effective tax rates are both 1.19% in ZIP code 76676, showing no variation by ZIP code in the available data. That means location within Penelope does not create a difference in the median tax rate here, even though assessed values still determine the final bill.

Penelope homeowners who believe their assessed value is too high can file a formal appeal with the Hill County Appraisal District before the May 15, 2026 deadline each year.

If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.

Property Tax Rates Across Penelope, Hill County, Texas

As noted earlier, local government entities set tax rates, which can vary widely within a state.

Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.

While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Below, you can compare Penelope's effective property tax rate to other cities in Texas and the median property tax rates in Texas and the U.S.

Property Tax Rates Across Penelope, Hill County, Texas

Source: Ownwell

1.11%

1.55%

1.99%

Our median effective property tax rate (tax bill Ă· assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Penelope Tax Rate

1.19%

Our median effective property tax rate (tax bill Ă· assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Hill County Tax Rate

1.43%

Median Effective Texas Tax Rate

1.48%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Penelope, Hill County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
766760.35%0.95%1.19%1.43%1.49%

Source: Ownwell

Property Tax Assessment Values Across Penelope, Hill County, Texas

When examining property taxes in Penelope, Texas, understanding the distinction between "market value" and "assessed value" is crucial.

The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hill County appraisal district estimates the market value for tax purposes.

The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices:

In Hill County, assessment notices are sent in April each year. They'll typically reach your mailbox by the middle of April.

Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Penelope.

For example, the median home price in Penelope is $95,750, with tax bills ranging significantly across the county. 76676 has the highest median home price at $95,750.

Property Tax Assessment Values Across Penelope, Hill County, Texas

Source: Ownwell

$59,730

$143,785

$227,840

Median Penelope Market Value

$95,750

Median Hill County Market Value

$135,395

Median Texas Market Value

$258,851

Median United States Market Value

$235,294

Property Tax Assessment Values Across Penelope, Hill County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
76676$18,238$41,060$95,750$183,950$289,735

Source: Ownwell

Property Tax Bills Across Penelope, Hill County, Texas

Property tax bills in Penelope are based on the assessed value of a home and the local tax rates set for the area. When a property’s assessed value rises, the tax bill can increase even if the homeowner’s income does not. For homeowners, that means the bill is tied to market conditions and local assessments, not just what they paid for the home.

In Penelope, the median home price is $95,750, and tax bills can vary widely. The 25th percentile tax bill is $452, while the 75th percentile is $1,756 and the 90th percentile is $2,680. The highest and lowest median tax bill is $891 in ZIP code 76676, showing how much bills can differ within the area.

Ownwell helps homeowners challenge inaccurate assessments and find exemptions that may lower their property tax bills. By reviewing your property tax record and identifying savings opportunities, Ownwell can help you keep more money in your pocket.

Property Tax Bills Across Penelope, Hill County, Texas

Source: Ownwell

$610

$1,719

$2,827

Median Penelope Tax Bill

$891

Median Hill County Tax Bill

$1,804

Median Texas Tax Bill

$3,441

Median United States Tax Bill

$2,400

Property Tax Bills Across Penelope, Hill County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
76676$132$452$891$1,756$2,680

Source: Ownwell

Don't miss the deadline to protest!

Frequently Asked Property Tax Questions in Penelope, Texas

How are property taxes calculated in Penelope, Texas?
Property taxes in Penelope, Texas are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.
How do I appeal my property taxes in Penelope, Texas?
To appeal your property taxes in Penelope, Texas, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.
What property tax exemptions are available in Penelope, Texas?
Common property tax exemptions in Penelope, Texas include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.
When are property taxes due in Penelope, Texas?
Property tax deadlines in Penelope, Texas vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.
How can Ownwell help reduce my property taxes in Penelope, Texas?
Ownwell provides professional property tax appeal services in Penelope, Texas. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.