Gaines County, Texas Property Taxes
The median property tax rate in Gaines County is 1.79%, which is significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $85,350 in Gaines County, the typical annual property tax bill reaches $1,283, which is below the national median of $2,690. Property taxes in Gaines County are calculated based on the tax assessed value, generally lower than the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Gaines County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Seminole or another part of Gaines County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gaines County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.79%
Estimate Property Tax Bill
$1,528
$1,418
Ownwell’s Gaines County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gaines County with just 2 data points. Enter your property's estimated assessed value, our calculator applies the median tax rate in Gaines County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Gaines County, Texas
Property taxes in Gaines County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gaines County is 1.79%, which is higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Gaines County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gaines County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Gaines County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Seagraves has one of the higher property tax rates in Texas at 2.17%, while the city of Loop boasts one of the lowest at 0.71%. Analyzing how Gaines County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gaines County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gaines County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Denver City | 0.29% | 0.65% | 1.14% | 1.57% | 1.99% |
| Lamesa | N/A | N/A | N/A | N/A | N/A |
| Loop | 0.24% | 0.37% | 0.71% | 0.97% | 1.77% |
| Seagraves | 0.96% | 1.42% | 2.17% | 2.80% | 3.05% |
| Seminole | 0.67% | 1.19% | 1.76% | 2.03% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Gaines County, Texas
In Gaines County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Gaines County Appraisal District. The assessed value, however, 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 Gaines County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Seminole has the highest median tax bill at $1,418, while Loop has the lowest at $490. Being aware of these valuation processes in Gaines County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Gaines County Assessed Value
$85,350
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gaines County, Texas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Denver City | $14,933 | $31,025 | $77,255 | $147,340 | $234,225 |
| Lamesa | N/A | N/A | N/A | N/A | N/A |
| Loop | $15,366 | $57,480 | $105,160 | $170,610 | $430,230 |
| Seagraves | $9,093 | $26,768 | $56,040 | $104,362 | $162,046 |
| Seminole | $18,233 | $44,648 | $95,470 | $181,295 | $278,318 |
Source: Ownwell
Property Tax Bills Across Gaines County, Texas
In Gaines County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Gaines County is $85,350. Homeowners in this county experience a range of property tax bills, with the 25th percentile at $530, the 75th percentile at $2,618, and the 90th percentile reaching $4,263. The highest median tax bill within the county is found in Seminole, at $1,418, while the lowest is in Loop, at $490. These tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Gaines County's property tax bills reflect the variability within the region, emphasizing the importance of understanding local tax rates and assessed property values for homeowners.
Average Gaines County Tax Bill
$1,283
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Gaines County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Denver City | $103 | $289 | $675 | $1,492 | $2,917 |
| Lamesa | N/A | N/A | N/A | N/A | N/A |
| Loop | $120 | $264 | $490 | $1,166 | $2,003 |
| Seagraves | $185 | $464 | $974 | $1,919 | $3,389 |
| Seminole | $263 | $580 | $1,418 | $2,880 | $4,503 |
Source: Ownwell