Rate Breakdown

Property taxes in Bosque County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Bosque County

Bosque County property taxes are calculated based on the assessed value of your property and the local tax rates. The assessment process typically begins with a property appraisal, which is usually conducted by the Bosque County Appraisal District (BCAD). The BCAD determines the market value of your property, taking into account factors such as its size, location, and condition.

The BCAD then multiplies the property's assessed value by the local tax rates, which are expressed in terms of "millage." The millage rate is the number of dollars in taxes levied per $1,000 of assessed value. For example, if the millage rate is 50 cents, you would pay $50 in taxes for every $1,000 of assessed value.

The total tax amount is calculated by multiplying the assessed value by the millage rate. The resulting amount is your annual property tax liability. You may have the option to pay your taxes in installments, with two or three payments due throughout the year.

Available Exemptions

• Homestead Exemption: This exemption reduces the taxable value of your home by up to $25,000, which can result in significant tax savings. To qualify, you must occupy the property as your primary residence.
• Senior Citizen Exemption: If you are 65 years or older, you may be eligible for this exemption, which also reduces the taxable value of your home. The amount of the exemption is the same as the homestead exemption.
• Disability Exemption: If you are eligible for a disability benefit, you may be eligible for this exemption, which reduces the taxable value of your home by up to 20% of its value.
• Veteran Exemption: If you are a veteran or the surviving spouse of a veteran, you may be eligible for this exemption, which reduces the taxable value of your home by up to 20% of its value.

It's essential to note that these exemptions require annual applications and renewal. You must also meet specific eligibility criteria and provide required documentation to qualify for these exemptions.

Payment Schedule & Deadlines

In Bosque County, property taxes are due on November 30th of each year. You may have the option to pay your taxes in installments, with two or three payments due throughout the year. The payment schedule typically looks like this:

• First installment: Due on May 1st
• Second installment: Due on July 1st
• Third installment: Due on October 1st (only if you pay in three installments)

It's essential to note that late payments incur penalties and interest. If you fail to pay your taxes on time, you may face additional fees, fines, and even lose your property to a tax sale.

Appealing Your Assessment

If you disagree with the assessed value of your property, you may appeal to the Bosque County Appraisal Review Board (ARB). The ARB is responsible for reviewing appeals and determining whether the assessed value is fair and accurate.

To appeal, you must submit a written application to the ARB within 30 days of receiving your notice of value. You may also request a hearing before the ARB to present your case. The ARB will review your appeal and make a determination based on the evidence presented.

It's essential to note that you must provide supporting documentation and evidence to support your appeal. It's recommended that you consult with a tax professional or attorney to ensure you follow the correct procedures and present a strong case.