Gatesville, Texas Property Taxes
The median property tax rate in Gatesville, TX is 0.23%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Gatesville at $346,285, the typical annual property tax bill is $516, well below the national median of $2,690. Property taxes in Gatesville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gatesville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gatesville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gatesville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.23%
Estimate Property Tax Bill
$796
$737
Ownwell’s Gatesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gatesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gatesville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gatesville, Texas
Property taxes in Gatesville, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gatesville is 1.55%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Gatesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gatesville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Gatesville's effective property tax rate to other counties in Texas and the national median. For comparison, the 75001 zip code has the highest median property tax rate of 2.47%, while the 79851 zip code has the lowest median tax rate of 0.18%. Understanding how these cities compare with Gatesville provides valuable insights into the varying tax landscape across Coryell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gatesville Tax Rate
0.23%
Average Lampasas County Tax Rate
0.89%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gatesville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76528 | 0.11% | 0.20% | 0.23% | 0.31% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Gatesville, Texas
In Gatesville, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Coryell County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Gatesville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Gatesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76528 has the highest and lowest median tax bill at $516.
Average Gatesville Assessed Value
$346,285
Average Lampasas County Assessed Value
$268,280
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gatesville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76528 | $83,635 | $187,352 | $346,285 | $446,162 | $498,150 |
Source: Ownwell
Property Tax Bills Across Gatesville, Texas
In Gatesville, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home. For example, a home with a median price of $346,285 will have its assessed value calculated based on local assessment rules. The tax rate in Gatesville is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within the county, any applicable exemptions, and the specific tax rate set by local taxing authorities. Homeowners in Gatesville can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $213, while the 75th percentile tax bill reaches approximately $947, and the 90th percentile tax bill is about $1,208. These variations highlight how property taxes impact homeowners differently, depending on their property's assessed value and any qualifying exemptions.
Average Gatesville Tax Bill
$516
Average Lampasas County Tax Bill
$2,214
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Gatesville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76528 | $113 | $213 | $516 | $947 | $1,208 |
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 | |
|---|---|
| Lampasas Appraisal District | |
| Website | www.lampasascad.org |