Rate Breakdown

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

How Property Tax Works in Lipscomb County

Property taxes in Lipscomb County are based on the assessed value of your property, which is determined by the Lipscomb County Appraisal District (LCAD). The appraisal process involves evaluating the market value of your property as of January 1st each year. Once the assessed value is determined, it is multiplied by the local tax rate, known as the millage rate, to calculate your property tax bill. The millage rate is set by various taxing entities, including the county, school districts, and other local authorities. These rates can vary depending on your property's location within the county.

Available Exemptions

Texas offers several property tax exemptions that can reduce your tax liability. In Lipscomb County, eligible homeowners can apply for the following exemptions:

• Homestead Exemption: Available to homeowners who use their property as their primary residence. This exemption reduces the taxable value of your home.
• Senior Citizen Exemption: Homeowners aged 65 or older may qualify for additional exemptions, including a freeze on school district taxes.
• Disability Exemption: Individuals with disabilities may be eligible for exemptions similar to those offered to senior citizens.
• Veteran Exemption: Veterans who are disabled, surviving spouses of veterans, and those who served in active duty may qualify for property tax reductions.

To apply for these exemptions, homeowners must submit the appropriate forms to the LCAD. Deadlines and required documentation vary, so it’s essential to check with the appraisal district for specifics.

Payment Schedule & Deadlines

Property tax bills in Lipscomb County are typically mailed in October, and payments are due by January 31st of the following year. Taxpayers have the option to pay their taxes in one lump sum or in installments. The installment option requires the first payment to be made by November 30th, with subsequent payments due by specific deadlines throughout the year. Failure to pay property taxes on time can result in penalties, interest, and even the possibility of a tax lien or foreclosure. It’s crucial to stay informed about deadlines and payment options to avoid these consequences.

Appealing Your Assessment

If you believe your property has been overvalued by the LCAD, you have the right to appeal the assessment. The appeals process begins with filing a notice of protest with the appraisal district by the May 15th deadline or within 30 days of receiving your appraisal notice, whichever is later. The LCAD will schedule a hearing with the Appraisal Review Board (ARB), where you can present evidence supporting your case, such as recent sales data or a professional appraisal. If you disagree with the ARB’s decision, you may further appeal to district court or through binding arbitration. It’s advisable to consult with a property tax professional or attorney to navigate the appeals process effectively.