76462 Property Tax Rate

Property owners in ZIP code 76462 (Lipan, Texas) pay a median of $3,755/year in property taxes on homes valued at $302,400. This translates to an effective tax rate of 1.24%, which is 8% below the Texas state average of 1.35%.

The monthly property tax burden for a median-valued home in 76462 is approximately $313, which factors into escrow payments on mortgages. This ZIP code is located within Hood County. This is $624 more than the Texas average of $3,131/year.

Compared to similar ZIP codes in Texas, 76462 has higher property taxes. ZIP codes with similar effective rates include 77021 (1.24%) and 79027 (1.24%).

In Lipan, property taxes represent approximately 3.9% of the median household income of $95,398, 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%, provided you file for the Homestead Exemption with the Hood County Appraisal District by April 30 of the year following purchase. Hood County's Homestead Exemption reduces the taxable value of your primary residence, saving most homeowners $250–$450 annually on school and other entity taxes. File your exemption application with the Hood County Appraisal District immediately after closing to activate the 10% annual increase cap and lock in this protection.