Olney, Young County, Texas Property Taxes
Property Taxes in Olney, Texas
Median Olney, Texas effective property tax rate: 2.75%, significantly higher than the national median of 1.02%, and higher than the Texas state median of 1.48%.
Median Olney, Texas home value: $42,700
Median annual Olney, Texas tax bill: $1,189, lower than the national median property tax bill of $2,400.
How are property taxes in Young calculated?
Property taxes in Olney, 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 Olney's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Olney, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Olney, Young County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.75%
Estimate Property Tax Bill
$1,174
$1,090
How Does the Olney Property Tax Calculator Work?
Use this Olney property tax calculator to estimate your annual property tax bill. Enter your property’s assessed value and our calculator applies Olney’s median effective tax rate of 2.75% — based on actual property records in Young 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 Olney’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 Olney: rates are 1189.00% in 76374, 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 Olney.
About Olney Property Taxes
About Property Taxes in Olney, Young, Texas
Olney’s median effective property tax rate of 2.75% is higher than the Texas state median of 1.48% and higher than the national median of 1.02%. This rate reflects the Young County base levy combined with local school district levies and Municipal Utility Districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Olney. Homeowners in ZIP code 76374 carry a median effective rate of 2.75%, while the lowest ZIP code also sits at 2.75%. This means there is no spread across the city, but the rate is still well above the national median property tax rate.
Olney homeowners who believe their assessed value is too high can file a formal appeal with the local 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 Olney, Young 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 OLNEY'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 ÷ 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 Olney Tax Rate
2.75%
Our median effective property tax rate (tax bill ÷ 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 Young County Tax Rate
2.07%
Median Effective Texas Tax Rate
1.48%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Olney, Young County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76374 | 0.85% | 1.58% | 2.75% | 3.57% | 4.19% |
Source: Ownwell
Property Tax Assessment Values Across Olney, Young County, Texas
When examining property taxes in Olney, 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 Young 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:
In Young County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Olney.
For example, the median home price in Olney is $42,700, with tax bills ranging significantly across the county. 76374 has the highest median home price at $42,700.
Property Tax Assessment Values Across Olney, Young County, Texas
Source: Ownwell
$29,300
$72,810
$116,320
Median Olney Market Value
$42,700
Median Young County Market Value
$90,675
Median Texas Market Value
$258,851
Median United States Market Value
$235,294
Property Tax Assessment Values Across Olney, Young County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76374 | $12,352 | $20,890 | $42,700 | $102,435 | $245,750 |
Source: Ownwell
Property Tax Bills Across Olney, Young County, Texas
Property tax bills in Olney are based on the assessed value of a home and the local tax rate set by taxing authorities. When a property is valued, that assessment is multiplied by the applicable tax rate to determine the annual bill. For homeowners, this means the amount owed can change if the home’s assessed value changes or if local rates are adjusted.
In Olney, the median home price is $42,700, which helps show how property taxes are tied to local market values. The typical tax bill ranges from $536 at the 25th percentile to $2,215 at the 75th percentile, with the 90th percentile reaching $3,761. The median tax bill in ZIP code 76374 is $1,189.
Because property taxes are based on assessed value, homeowners with higher-valued properties generally pay more, while those with lower assessments may pay less. Understanding how the bill is calculated can help homeowners better anticipate annual costs and spot opportunities to review their assessment.
Median Olney Tax Bill
$1,189
Median Young County Tax Bill
$1,707
Median Texas Tax Bill
$3,441
Median United States Tax Bill
$2,400
Property Tax Bills Across Olney, Young County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76374 | $219 | $536 | $1,189 | $2,215 | $3,761 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Young Appraisal District | |
| Website | esearch.youngcad.org |