76431 Property Tax Rate

Property owners in ZIP code 76431 (Chico, Texas) pay a median of $2,440/year in property taxes on homes valued at $186,700. This translates to an effective tax rate of 1.31%, which is 3% below the Texas state average of 1.35%.

The monthly property tax burden for a median-valued home in 76431 is approximately $203, which factors into escrow payments on mortgages. This ZIP code is located within Wise County. This is $691 less than the Texas average of $3,131/year.

Compared to similar ZIP codes in Texas, 76431 has lower property taxes. ZIP codes with similar effective rates include 79064 (1.31%) and 77446 (1.31%).

In Chico, property taxes represent approximately 2.9% of the median household income of $82,971, providing context for the relative tax burden on homeowners in this area.

Texas imposes no state income tax and caps annual homestead appraised value increases at 10% for properties with an active Homestead Exemption — file your application with the Wise County Appraisal District by April 30 of the year following purchase. Wise County's Homestead Exemption exempts a portion of assessed value from school district taxes, saving typical homeowners $300–$600 annually. Submit your exemption application to the Wise County Appraisal District immediately after closing and retain proof of filing to ensure the 10% cap applies to your appraisal.