Rainbow, Somervell County, Texas Property Taxes
Property Taxes in Rainbow, Texas
Median Rainbow, Texas effective property tax rate: 1.16%, significantly higher than the national median of 1.02%, and lower than the Texas state median of 1.48%.
Median Rainbow, Texas home value: $330,490
Median annual Rainbow, Texas tax bill: $3,882, $1,482 higher than the national median property tax bill of $2,400.
How are property taxes in Somervell calculated?
Property taxes in Rainbow, Texas are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Rainbow's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rainbow, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Rainbow, Somervell County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.16%
Estimate Property Tax Bill
$3,834
$3,558
How Does the Rainbow Property Tax Calculator Work?
Use this Rainbow property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Rainbow's median effective tax rate of 1.16% — based on actual property records in Somervell County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Rainbow's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Rainbow: rates range from 1.16% in 76077 to 1.16% in 76077, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Rainbow.
About Rainbow Property Taxes
About Property Taxes in Rainbow, Somervell, Texas
Rainbow’s median effective property tax rate of 1.16% is lower than the Texas state median of 1.48% and higher than the national median of 1.02%. This rate reflects the Somervell County base levy combined with local school district levies and Municipal Utility Districts that can vary by subdivision throughout the area.
Property tax rates are not uniform across Rainbow. Homeowners in the 76077 ZIP code carry a median effective rate of 1.16%, and the same ZIP also has a median home price of $330,490 and a median tax bill of $3,882. That consistency shows how local boundaries can shape what homeowners pay.
Rainbow homeowners who believe their assessed value is too high can file a formal appeal with the Somervell County Appraisal District before the May 15, 2026 deadline each year.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Rainbow, Somervell County, Texas
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Rainbow's effective property tax rate to other cities in Texas and the median property tax rates in Texas and the U.S.
Our median effective property tax rate (tax bill Ă· assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Rainbow Tax Rate
1.16%
Our median effective property tax rate (tax bill Ă· assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Somervell County Tax Rate
1.26%
Median Effective Texas Tax Rate
1.48%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rainbow, Somervell County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76077 | 0.49% | 0.87% | 1.16% | 1.40% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Rainbow, Somervell County, Texas
When examining property taxes in Rainbow, Texas, understanding the distinction between “market value” and “assessed value” is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Somervell County appraisal district estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices are sent in April each year and typically reach your mailbox by the middle of the month. Each property owner receives a notice that includes both the market value and assessed value, along with an estimate of your property tax bill.
For example, the median home price in Rainbow is $330,490, and the median tax bill is $3,882, compared with the national median property tax bill of $2,400. Tax bills range from $1,990 at the 25th percentile to $6,894 at the 90th percentile, showing how widely property taxes can vary in Somervell County.
Property Tax Assessment Values Across Rainbow, Somervell County, Texas
Source: Ownwell
$198,380
$514,495
$830,610
Median Rainbow Market Value
$330,490
Median Somervell County Market Value
$318,540
Median Texas Market Value
$258,851
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rainbow, Somervell County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76077 | $85,850 | $164,845 | $330,490 | $528,955 | $798,700 |
Source: Ownwell
Property Tax Bills Across Rainbow, Somervell County, Texas
Property tax bills in Rainbow are based on the assessed value of a home and the local tax rates set by taxing authorities. When a property’s market value rises, the assessed value can also increase, which may lead to a higher tax bill. Homeowners in Rainbow should expect their bill to reflect both the value of their property and the rates applied by the county and other local entities.
The median home price in Rainbow is $330,490, and the median property tax bill is $3,882, which is above the national median property tax bill of $2,400. That means many homeowners in the city pay more than the typical U.S. homeowner. Tax bills can vary widely, with the 25th percentile at $1,990 and the 75th percentile at $5,476, showing how much property taxes can differ from one home to another.
Median Rainbow Tax Bill
$3,882
Median Somervell County Tax Bill
$3,697
Median Texas Tax Bill
$3,441
Median United States Tax Bill
$2,400
Property Tax Bills Across Rainbow, Somervell County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76077 | $922 | $1,990 | $3,882 | $5,476 | $6,894 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
Links | |
|---|---|
| Somervell Appraisal District | |
| Website | somervellcad.southwestdatasolutions.com |