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Mineral Wells, Palo Pinto County, Texas Property Taxes

  • Median Mineral Wells, TX effective property tax rate: 1.80%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.

  • Median Mineral Wells, TX home value: $122,600

  • Median annual Mineral Wells, TX tax bill: $2,186, $214 lower than the national median property tax bill of $2,400.

How are property taxes in Palo Pinto calculated?

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

Last Updated March 1, 2025

Mineral Wells, Palo Pinto County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.8%

Estimate Property Tax Bill

$2,207

$2,048

Ownwell’s Mineral Wells Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mineral Wells with just two data points. By entering your property's estimated assessed value, our calculator applies Mineral Wells’ 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 Palo Pinto County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mineral Wells, Palo Pinto 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. This calculation results 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. Below, you can compare Mineral Wells’ effective property tax rate to other cities in Texas and the median property tax rates in Texas and the U.S. Mineral Wells, located in Palo Pinto County, boasts a median property tax rate of 1.80%. This rate is notably higher than the national median property tax rate of 1.02%. Despite this, the effective tax rate in Mineral Wells remains consistent across its zip codes, reflecting a uniform approach to property taxation within the city. Understanding these rates can provide valuable insights into local government funding and the relative tax burden on property owners in the area.

Property Tax Rates Across Mineral Wells, Palo Pinto County, Texas

Source: Ownwell

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1.36%

1.58%

1.80%

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 Mineral Wells Tax Rate

1.80%

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 Palo Pinto County Tax Rate

1.57%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mineral Wells, Palo Pinto County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
760671.25%1.55%1.80%2.27%2.27%

Source: Ownwell

Property Tax Assessment Values Across Mineral Wells, Palo Pinto County, Texas

When examining property taxes in Mineral Wells, TX, 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 Palo Pinto 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. Assessment notices: In Palo Pinto County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Mineral Wells. For example, the median home price in Mineral Wells is $122,600, with tax bills ranging significantly across the county. Zip code 76067 has the highest median home price at $122,600.

Property Tax Assessment Values Across Mineral Wells, Palo Pinto County, Texas

Source: Ownwell

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$64,230

$230,070

$395,910

Median Mineral Wells Market Value

$122,600

Median Palo Pinto County Market Value

$144,560

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mineral Wells, Palo Pinto County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
76067$31,986$66,420$122,600$200,670$291,106

Source: Ownwell

Property Tax Bills Across Mineral Wells, Palo Pinto County, Texas

In Mineral Wells, Palo Pinto County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The tax rate is then applied to this assessed value to calculate the annual tax bill. Homeowners in this region experience a range of property tax bills, with the 25th percentile at $1,176 and the 75th percentile at $3,711. The highest and lowest median tax bill in the area is $2,186, significantly lower than the national median property tax bill of $2,400. Factors influencing the tax bill include the property's assessed value and the local tax rate. These taxes can impact homeowners by affecting their monthly mortgage payments and overall housing affordability. Ownwell assists homeowners by providing property tax appeal services, potentially lowering their tax bills. By analyzing market trends and assessment values, Ownwell identifies opportunities for savings, helping homeowners manage their expenses more effectively.

Property Tax Bills Across Mineral Wells, Palo Pinto County, Texas

Source: Ownwell

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$971

$3,355

$5,738

Median Mineral Wells Tax Bill

$2,186

Median Palo Pinto County Tax Bill

$2,369

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Mineral Wells, Palo Pinto County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
76067$617$1,176$2,186$3,711$5,297

Source: Ownwell

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