Gainesville, Texas Property Taxes
The median property tax rate in Gainesville, Texas is 1.38%, noticeably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Gainesville at $345,847, the typical annual property tax bill reaches $5,073, significantly exceeding the national median of $2,690. Property taxes in Gainesville are calculated based on the tax assessed value, which often 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 substantial annual savings. Whether you're in the heart of Gainesville 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
Gainesville, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$4,773
$4,417
$1,148
Average Gainesville, Texas Tax Savings
Ownwell’s Gainesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gainesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gainesville to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Gainesville. 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 Gainesville, Texas
Property taxes in Gainesville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gainesville is 1.38%, 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 76273 zip code has the highest median property tax rate of 3.06%, while the 76240 zip code has the lowest median tax rate of 1.33%. Understanding how these cities compare with Gainesville provides valuable insights into the varying tax landscape across Grayson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gainesville Tax Rate
1.38%
Average Grayson County Tax Rate
2.09%
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 | 0.79% | 1.14% | 1.33% | 1.48% | 2.30% |
| 76273 | 3.06% | 3.06% | 3.06% | 3.06% | 3.06% |
Source: Ownwell
$1,148
Average Gainesville Tax Savings
Save on your property taxes & more with 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 Grayson 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. For instance, the median home price in Gainesville is $345,847, with tax bills ranging from $3,185 at the 25th percentile to $8,075 at the 90th percentile. The highest median tax bill is $5,106 in zip code 76240, while the lowest is $1,734 in zip code 76273. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gainesville Assessed Value
$345,847
Average Grayson County Assessed Value
$177,813
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 | $224,462 | $269,142 | $365,786 | $498,090 | $621,470 |
| 76273 | $56,700 | $56,700 | $56,700 | $56,700 | $56,700 |
Source: Ownwell
$1,148
Average Gainesville Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Gainesville, Texas
In Gainesville, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. With a median home price of $345,847, homeowners in Gainesville face a range of property tax bills. For example, the 25th percentile tax bill is $3,185, while the 75th percentile tax bill reaches $5,320. The highest median tax bill in the area is $5,106 in the 76240 zip code, significantly higher than the national median property tax rate of 0.99%. Several factors influence your property tax bill, including the market value of your home, local tax rates, and any applicable exemptions. High property taxes can be a burden on homeowners, affecting monthly budgets and overall financial planning. Ownwell can help homeowners in Gainesville reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing your property's assessed value and identifying potential inaccuracies, Ownwell ensures you are not overpaying on your property taxes. This can lead to significant savings and more manageable tax bills.
Average Gainesville Tax Bill
$5,073
Average Grayson County Tax Bill
$3,777
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 | $2,985 | $3,434 | $5,106 | $5,377 | $8,136 |
| 76273 | $1,734 | $1,734 | $1,734 | $1,734 | $1,734 |
Source: Ownwell
$1,148
Average Gainesville Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Grayson Appraisal District | |
| Website | esearch.graysonappraisal.org |
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