Pampa, Texas Property Taxes
The median property tax rate in Pampa, TX is 2.61%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Pampa, the typical annual property tax bill reaches $1,185, which is below the national median of $2,690. Property taxes in Pampa 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 Pampa'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 Pampa 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
Pampa, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$1,311
$1,216
Ownwell’s Pampa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pampa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pampa 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 Pampa, Texas
Property taxes in Pampa, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pampa is 2.61%, significantly higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Pampa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pampa 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 Pampa's effective property tax rate to other counties in Texas and the national median. For comparison, the 79065 zip code has the highest median property tax rate of 2.61%, while the 79066 zip code also has the lowest median tax rate of 2.61%. Understanding how these cities compare with Pampa provides valuable insights into the varying tax landscape across Gray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pampa Tax Rate
2.61%
Average Gray County Tax Rate
2.61%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pampa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79065 | 1.85% | 2.44% | 2.61% | 2.61% | 2.61% |
| 79066 | 2.53% | 2.61% | 2.61% | 2.61% | 2.61% |
Source: Ownwell
Property Tax Assessment Values Across Pampa, Texas
In Pampa, 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 Gray 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 Pampa, 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. For instance, the median home price in Pampa stands at $50,220, with tax bills ranging from $489 at the 25th percentile to $4,220 at the 90th percentile. The zip code 79065 has the highest median tax bill at $1,188, while 79066 has the lowest at $388. 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 Pampa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pampa Assessed Value
$50,220
Average Gray County Assessed Value
$47,170
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pampa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79065 | $12,472 | $19,870 | $50,300 | $116,150 | $176,440 |
| 79066 | $4,498 | $8,825 | $14,880 | $21,045 | $30,708 |
Source: Ownwell
Property Tax Bills Across Pampa, Texas
In Pampa, located in Gray County, TX, property tax bills are calculated based on the assessed value of the property, which is determined by local tax assessors. The tax rate is applied to this assessed value to generate the annual tax bill. Several factors influence the final tax bill, including the property's market value, location, and any applicable exemptions. For homeowners in Pampa, the median home price is $50,220, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $489, while the 75th percentile reaches $2,695, and the 90th percentile goes up to $4,220. This variation is reflective of differences in property values and specific local tax rates. The highest median tax bill in the area is $1,188 in ZIP code 79065, whereas the lowest median tax bill is $388 in ZIP code 79066. Compared to the national median property tax rate of 0.99%, Pampa's tax rates and bills offer a diverse range of financial impacts on homeowners, depending on the specific assessed values and applicable local rates.
Average Pampa Tax Bill
$1,185
Average Gray County Tax Bill
$1,100
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Pampa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79065 | $316 | $490 | $1,188 | $2,696 | $4,221 |
| 79066 | $117 | $203 | $388 | $549 | $801 |
Source: Ownwell