Pecan Gap, Texas Property Taxes
The median property tax rate in Pecan Gap, TX is 1.15%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $240,210 in Pecan Gap, the typical annual property tax bill amounts to $2,414, which is below the national median of $2,690. Property taxes in Pecan Gap are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Pecan Gap'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 Pecan Gap 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
Pecan Gap, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Pecan Gap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pecan Gap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pecan Gap 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 Pecan Gap, Texas
Property taxes in Pecan Gap, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pecan Gap is 1.15%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Pecan Gap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pecan Gap 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 Pecan Gap's effective property tax rate to other counties in Texas and the national median. For comparison, the 75469 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Pecan Gap provides valuable insights into the varying tax landscape across Fannin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pecan Gap Tax Rate
1.15%
Average Fannin County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pecan Gap, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75469 | 0.95% | 1.02% | 1.15% | 1.26% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Pecan Gap, Texas
In Pecan Gap, 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 Fannin 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. Assessment notices in Pecan Gap 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 Pecan Gap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Pecan Gap are both $2,414, found in the zip code 75469.
Average Pecan Gap Assessed Value
$240,210
Average Fannin County Assessed Value
$196,430
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pecan Gap, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75469 | $85,855 | $136,862 | $240,210 | $333,345 | $365,970 |
Source: Ownwell
Property Tax Bills Across Pecan Gap, Texas
Property tax bills in Pecan Gap, located in Fannin County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's appraisal district and reflects the market value of the home. For instance, with a median home price of $240,210, homeowners can expect their property tax bill to vary significantly based on specific assessments and exemptions. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. In Pecan Gap, property tax bills can range widely, with the 25th percentile at $1,276 and the 75th percentile reaching $3,786. The 90th percentile tax bill can be as high as $4,588. These figures illustrate the potential financial impact on homeowners, who must budget for these annual expenses. Comparing these rates to the national median property tax rate of 0.99%, homeowners in Pecan Gap might find their tax bills to be relatively moderate, depending on individual circumstances.
Average Pecan Gap Tax Bill
$2,414
Average Fannin County Tax Bill
$2,400
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Pecan Gap, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75469 | $896 | $1,276 | $2,414 | $3,786 | $4,588 |
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 | |
|---|---|
| Fannin Appraisal District | |
| Website | esearch.fannincad.org |