Palo Pinto County Property Taxes
The median property tax rate in Palo Pinto is 1.57%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Palo Pinto at $144,560, the typical annual property tax bill reaches $2,369, which is below the national median of $2,690. Property taxes in Palo Pinto are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Palo Pinto's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Mineral Wells or another part of Palo Pinto, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palo Pinto County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$2,270
$2,100
Ownwell’s Palo Pinto Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Palo Pinto with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Palo Pinto 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 Palo Pinto County, Texas
Property taxes in Palo Pinto County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Palo Pinto County is 1.57%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Palo Pinto County set these rates annually, and they can vary significantly between different areas within the county. Each year, Palo Pinto 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 Palo Pinto County's effective property tax rate with other counties in Texas and the national median. For comparison, the city of Mineral Wells has one of the higher property tax rates in Texas at 1.80%, while the city of Whitt boasts one of the lowest at 1.32%. Analyzing how Palo Pinto County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Palo Pinto County Tax Rate
1.57%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palo Pinto County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Caddo | 1.36% | 1.36% | 1.36% | 1.48% | 1.48% |
| Gordon | 1.23% | 1.42% | 1.58% | 1.66% | 1.94% |
| Graford | 1.19% | 1.36% | 1.48% | 1.48% | 1.61% |
| Graham | 1.47% | 1.48% | 1.48% | 1.48% | 1.48% |
| Lipan | 1.06% | 1.42% | 1.67% | 1.72% | 1.72% |
| Millsap | 1.21% | 1.42% | 1.71% | 1.71% | 1.71% |
| Mineral Wells | 1.25% | 1.55% | 1.80% | 2.27% | 2.27% |
| Mingus | 1.15% | 1.39% | 1.79% | 1.79% | 1.79% |
| Palo Pinto | 0.88% | 1.07% | 1.36% | 1.42% | 1.42% |
| Perrin | 1.38% | 1.43% | 1.45% | 1.45% | 1.65% |
| Santo | 0.89% | 1.03% | 1.42% | 1.42% | 1.42% |
| Strawn | 1.17% | 1.34% | 1.57% | 1.57% | 1.58% |
| Whitt | 1.32% | 1.32% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Palo Pinto County, Texas
In Palo Pinto 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 Palo Pinto 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 Palo Pinto 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. The highest median tax bill in the county is found in Graham at $5,738, while Mingus has the lowest at $971. Being aware of these valuation processes in Palo Pinto County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Palo Pinto County, Texas
Source: Ownwell
$64,230
$230,070
$395,910
Average Palo Pinto County Assessed Value
$144,560
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palo Pinto County, Texas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Caddo | $185,088 | $256,870 | $334,990 | $494,990 | $672,496 |
| Gordon | $35,485 | $78,282 | $171,415 | $360,285 | $605,655 |
| Graford | $36,603 | $86,918 | $329,080 | $768,048 | $1,400,217 |
| Graham | $32,142 | $125,195 | $395,910 | $846,678 | $1,366,273 |
| Lipan | $25,866 | $65,875 | $130,335 | $269,825 | $417,580 |
| Millsap | $36,811 | $47,008 | $87,135 | $171,968 | $308,647 |
| Mineral Wells | $31,986 | $66,420 | $122,600 | $200,670 | $291,106 |
| Mingus | $15,022 | $35,330 | $64,230 | $115,930 | $182,808 |
| Palo Pinto | $22,002 | $69,538 | $152,750 | $298,965 | $439,296 |
| Perrin | $22,558 | $58,265 | $122,235 | $167,900 | $293,155 |
| Santo | $25,000 | $63,745 | $133,360 | $237,625 | $397,380 |
| Strawn | $29,588 | $60,520 | $131,130 | $355,050 | $1,091,774 |
| Whitt | $91,600 | $91,600 | $91,600 | $91,600 | $91,600 |
Source: Ownwell
Property Tax Bills Across Palo Pinto County, Texas
In Palo Pinto County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions. For example, homeowners in Graham face the highest median tax bill at $5,738, while those in Mingus enjoy the lowest median tax bill at $971. Across the county, the median home price stands at $144,560, leading to varying tax bills depending on the specific property and its assessed value. These property tax bills significantly impact homeowners, as they contribute to local services such as schools, infrastructure, and emergency services. With tax bills ranging from $1,121 at the 25th percentile to $9,425 at the 90th percentile, understanding these calculations can help homeowners better manage their financial obligations.
Average Palo Pinto County Tax Bill
$2,369
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Palo Pinto County, Texas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Caddo | $2,309 | $3,566 | $4,776 | $6,959 | $9,824 |
| Gordon | $555 | $1,270 | $2,656 | $5,130 | $9,305 |
| Graford | $543 | $1,266 | $4,667 | $11,073 | $20,412 |
| Graham | $473 | $1,729 | $5,738 | $11,982 | $20,166 |
| Lipan | $423 | $1,013 | $1,957 | $3,955 | $6,757 |
| Millsap | $549 | $786 | $1,396 | $2,601 | $4,966 |
| Mineral Wells | $617 | $1,176 | $2,186 | $3,711 | $5,297 |
| Mingus | $256 | $504 | $971 | $1,757 | $2,940 |
| Palo Pinto | $290 | $786 | $1,854 | $3,844 | $5,537 |
| Perrin | $287 | $842 | $1,751 | $2,398 | $3,862 |
| Santo | $484 | $894 | $1,699 | $2,968 | $5,064 |
| Strawn | $431 | $841 | $1,954 | $5,395 | $16,820 |
| Whitt | $1,206 | $1,206 | $1,206 | $1,206 | $1,206 |
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 | |
|---|---|
| Palo Pinto Appraisal District | |
| Website | iswdataclient.azurewebsites.net |