Loop, Gaines County, Texas Property Taxes

Name: Property Tax Bills Across Loop, Gaines County, Texas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median LOOP, TX effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median LOOP, TX home value: $105,160
Median annual LOOP, TX tax bill: $490, $1,910 lower than the national median property tax bill of $2,400.

How are property taxes in Gaines calculated?

Property taxes in LOOP, TX 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 LOOP’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LOOP, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Loop, Gaines County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.71%

Estimate Property Tax Bill

$747

$693

Ownwell’s LOOP Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in LOOP with just two data points. By entering your property's estimated assessed value, our calculator applies LOOP’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Gaines County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Loop, Gaines County, Texas

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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.

In LOOP, located in Gaines County, TX, the effective property tax rate is notably different from other cities in Texas. The median property tax rate in Texas stands at 0.71%, which is significantly lower than the national median property tax rate of 1.02%. This makes Texas an attractive option for property owners seeking lower tax rates. However, it's important to remember that property tax bills can still vary significantly based on property values and local tax rates.

Comparing LOOP's effective property tax rate to other cities in Texas and the U.S. highlights the variations in property tax obligations. Understanding these differences can help property owners make informed decisions about where to invest or reside.

Property Tax Rates Across Loop, Gaines County, Texas

Source: Ownwell

0.71%

1.44%

2.17%

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 Loop Tax Rate

0.71%

Median Effective Gaines County Tax Rate

1.79%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Loop, Gaines County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
79342	0.24%	0.37%	0.71%	0.97%	1.77%

Source: Ownwell

Property Tax Assessment Values Across Loop, Gaines County, Texas

When examining property taxes in Loop, 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 Gaines 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.

In Gaines County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Loop. For example, the median home price in Loop is $105,160, with tax bills ranging significantly across the county. Zip code 79342 has the highest median home price at $105,160.

Property Tax Assessment Values Across Loop, Gaines County, Texas

Source: Ownwell

$56,040

$80,600

$105,160

Median Loop Market Value

$105,160

Median Gaines County Market Value

$85,350

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Loop, Gaines County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
79342	$15,366	$57,480	$105,160	$170,610	$430,230

Source: Ownwell

Property Tax Bills Across Loop, Gaines County, Texas

In Loop, located in Gaines County, TX, property tax bills are calculated based on the assessed value of a home rather than its market value. The tax rate is applied to this assessed value to determine the annual tax bill. With a median home price of $105,160, Loop's property tax bills vary significantly. For instance, the tax bill at the 25th percentile is $264, while at the 75th percentile, it rises to $1,166. The 90th percentile sees bills reaching $2,003. These figures highlight the variability in tax burdens that homeowners may face. Compared to the national median property tax bill of $2,400, Loop's property taxes can be quite moderate. Homeowners in Loop can benefit from appealing their property assessments to ensure they are not overpaying. This is where Ownwell steps in, offering expert property tax appeal services. By leveraging local market insights and extensive experience, Ownwell can help homeowners potentially lower their tax bills, ensuring they pay only their fair share.

Property Tax Bills Across Loop, Gaines County, Texas

Source: Ownwell

$490

$954

$1,418

Median Loop Tax Bill

$490

Median Gaines County Tax Bill

$1,283

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Loop, Gaines County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
79342	$120	$264	$490	$1,166	$2,003

Source: Ownwell