Gainesville, Texas Property Taxes
The median property tax rate in Gainesville, Texas is 1.39%, which is considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Gainesville at $201,248, the typical annual property tax bill reaches $2,947, exceeding the national median of $2,690. Property taxes in Gainesville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gainesville'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 Gainesville or another part of Cooke County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gainesville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$2,797
$2,588
Ownwell’s Gainesville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gainesville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gainesville to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular insights, scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by Cooke County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Gainesville, Texas
Property taxes in Gainesville, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gainesville is 1.39%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Gainesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gainesville 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 Gainesville's effective property tax rate to other counties in Texas and the national median. For comparison, the 76240 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with Gainesville provides valuable insights into the varying tax landscape across Cooke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gainesville Tax Rate
1.39%
Average Cooke County Tax Rate
1.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gainesville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76240 | 0.94% | 1.16% | 1.39% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Gainesville, Texas
In Gainesville, 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 Cooke 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 Gainesville, 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. The median home price in Gainesville is $201,248, with tax bills ranging from $1,681 at the 25th percentile to $6,941 at the 90th percentile. The zip code 76240 has the highest and lowest median tax bill at $2,947. 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 Gainesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gainesville Assessed Value
$201,248
Average Cooke County Assessed Value
$215,126
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gainesville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76240 | $62,501 | $116,422 | $201,248 | $342,789 | $570,450 |
Source: Ownwell
Property Tax Bills Across Gainesville, Texas
In Gainesville, located in Cooke County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local appraisal district and reflects the market value of the property. Homeowners in Gainesville can expect their property tax bill to be influenced by several factors, including the median home price of $201,248 and the specific tax rate set by local taxing authorities. The tax bill varies widely among homeowners. For instance, the 25th percentile tax bill is $1,681, while the 75th percentile reaches $4,635. At the 90th percentile, homeowners might face a tax bill of $6,941. This wide range indicates significant variability in property tax burdens, which can be attributed to differences in property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Gainesville's property taxes can be a substantial financial consideration for homeowners. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and plan their finances accordingly.
Average Gainesville Tax Bill
$2,947
Average Cooke County Tax Bill
$2,905
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Gainesville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76240 | $816 | $1,681 | $2,947 | $4,635 | $6,937 |
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 | |
|---|---|
| Cooke Appraisal District | |
| Website | propaccess.trueautomation.com |