Water Valley, Tom Green County, Texas Property Taxes

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Property Taxes in Water Valley, Texas

Median Water Valley, Texas effective property tax rate: 1.31%, significantly lower than the national median of 1.02%, and lower than the Texas state median of 1.48%.
Median Water Valley, Texas home value: $178,185
Median annual Water Valley, Texas tax bill: $2,208, lower than the national median property tax bill of $2,400.

How are property taxes in Tom Green calculated?

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

Last Updated April 13, 2026

Water Valley, Tom Green County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.31%

Estimate Property Tax Bill

$2,334

$2,166

How Does the Water Valley Property Tax Calculator Work?

Use this Water Valley property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Water Valley's median effective tax rate of 1.31% — based on actual property records in Tom Green 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 Water Valley'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 Water Valley: rates range from 2208.00 in 76958 to 2208.00 in 76958, primarily due to differences in school district levies and local assessment districts.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Water Valley.

About Water Valley Property Taxes

About Property Taxes in Water Valley, Tom Green, Texas

Water Valley’s median effective property tax rate of 1.31% is lower than the Texas state median of 1.48% and higher than the national median of 1.02%. This rate reflects the Tom Green County base levy combined with local school district levies and Municipal Utility Districts that vary by subdivision throughout the city.

Property tax rates are not uniform across Water Valley. Homeowners in the 76958 ZIP code carry a median effective rate of 1.31%, while those in the same ZIP code pay 1.31%. This spread reflects how school district boundaries and local assessment districts are drawn across Tom Green County. Understanding which part of Water Valley you live in can make a meaningful difference to your annual tax bill.

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

If your estimated bill above 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 Water Valley, Tom Green 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 Water Valley'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 Water Valley, Tom Green County, Texas

Source: Ownwell

0.47%

0.89%

1.31%

Our median effective property tax rate (tax bill ÷ 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 Water Valley Tax Rate

1.31%

Median Effective Tom Green County Tax Rate

1.18%

Median Effective Texas Tax Rate

1.48%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Water Valley, Tom Green County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
76958	0.16%	0.35%	1.31%	1.70%	1.70%

Source: Ownwell

Property Tax Assessment Values Across Water Valley, Tom Green County, Texas

When examining property taxes in Water Valley, 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 Tom Green 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 Tom Green County are sent in the spring each year and typically reach your mailbox by the middle of the season. 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.

For example, the median home price in Water Valley is $178,185, with a median tax bill of $2,208. The 25th percentile tax bill is $446, while the 75th percentile is $4,279 and the 90th percentile is $5,451.

Property Tax Assessment Values Across Water Valley, Tom Green County, Texas

Source: Ownwell

$120,640

$290,655

$460,670

Median Water Valley Market Value

$178,185

Median Tom Green County Market Value

$191,425

Median Texas Market Value

$258,851

Median United States Market Value

$235,294

Property Tax Assessment Values Across Water Valley, Tom Green County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
76958	$56,935	$120,530	$178,185	$290,112	$366,370

Source: Ownwell

Property Tax Bills Across Water Valley, Tom Green County, Texas

Property tax bills in Water Valley are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property and the taxing authorities that apply in Tom Green County. For homeowners, this means the bill is shaped not just by the home itself, but also by local government budgets and school district levies that make up the total tax rate.

With a median home price of $178,185, the typical tax burden can still vary widely from one property to another. The 25th percentile tax bill is $446, while the 75th percentile is $4,279 and the 90th percentile reaches $5,451. The median tax bill is $2,208 in zip code 76958, showing how much bills can differ even within the same area.

Because property taxes are tied to assessed value, homeowners with rising home values may see higher bills over time.

Property Tax Bills Across Water Valley, Tom Green County, Texas

Source: Ownwell

$862

$2,843

$4,824

Median Water Valley Tax Bill

$2,208

Median Tom Green County Tax Bill

$2,068

Median Texas Tax Bill

$3,441

Median United States Tax Bill

$2,400

Property Tax Bills Across Water Valley, Tom Green County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
76958	$292	$446	$2,208	$4,279	$5,451

Source: Ownwell

Don't miss the deadline to protest!

Dates
Appeal Deadline	May 15
Tax Bill
Issued	October 1
Due Date #1	November 30
Due Date #2	June 30

Links
Tom Green Appraisal District
Website	www.southwestdatasolution.com

Frequently Asked Property Tax Questions in Water Valley, Texas

How are property taxes calculated in Water Valley, Texas?

Property taxes in Water Valley, 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 Water Valley, Texas?

To appeal your property taxes in Water Valley, 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 Water Valley, Texas?

Common property tax exemptions in Water Valley, 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 Water Valley, Texas?

Property tax deadlines in Water Valley, 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 Water Valley, Texas?

Ownwell provides professional property tax appeal services in Water Valley, 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.