77354 Property Tax Rate

Property owners in ZIP code 77354 (Magnolia, Texas) pay a median of $5,906/year in property taxes on homes valued at $379,700. This translates to an effective tax rate of 1.56%, which is 15% above the Texas state average of 1.35%.

The monthly property tax burden for a median-valued home in 77354 is approximately $492, which factors into escrow payments on mortgages. This ZIP code is located within Montgomery County. This is $2,775 more than the Texas average of $3,131/year.

Compared to similar ZIP codes in Texas, 77354 has lower property taxes. ZIP codes with similar effective rates include 76821 (1.56%) and 79106 (1.56%).

In Magnolia, property taxes represent approximately 5.3% of the median household income of $112,093, providing context for the relative tax burden on homeowners in this area.

Texas has no state income tax and imposes no annual cap on homestead appraised value increases after purchase, but you can file a Homestead Exemption application with the Montgomery County Appraisal District to remove a portion of your home's value from school and county taxes, typically saving $800–$1,500 annually. Submit your exemption application by April 30 of the year following your purchase to lock in this benefit. Contact the Montgomery County Appraisal District immediately after closing to request an exemption form and confirm your base appraised value.