Gary, Panola County, Texas Property Taxes

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

Median Gary, TX effective property tax rate: 1.76%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Gary, TX home value: $59,560
Median annual Gary, TX tax bill: $993, $1,407 lower than the national median property tax bill of $2,400.

How are property taxes in Panola calculated?

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

Last Updated March 1, 2025

Gary, Panola County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.76%

Estimate Property Tax Bill

$1,048

$973

Ownwell’s Gary Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gary with just two data points.

By entering your property's estimated assessed value, our calculator applies Gary’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 Panola County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Gary, Panola County, Texas

Local government entities determine property tax rates, which can significantly vary within Texas. This variation arises because each county, including Panola County, estimates its annual budget to provide necessary services and divides it by the total value of all taxable property in its area, resulting in the property tax rate. Though setting tax rates and budgets involves votes and laws, this is essentially the annual procedure.

In Gary, located in Panola County, the effective property tax rate stands at 1.76%, which is significantly higher than the national median of 1.02%. This means homeowners in Gary face a larger tax burden compared to the national average. The median property tax bill in Gary also surpasses the national median of $2,400, reflecting the higher rate. When compared to other cities in Texas, Gary's property tax rate is among the highest, indicating a need for homeowners to explore potential tax appeal and exemption opportunities. Understanding these variations can help homeowners make informed decisions about their property taxes and potentially reduce their financial obligations.

Property Tax Rates Across Gary, Panola County, Texas

Source: Ownwell

1.30%

1.53%

1.76%

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 Gary Tax Rate

1.76%

Median Effective Panola County Tax Rate

1.51%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Gary, Panola County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
75643	1.51%	1.64%	1.76%	1.76%	1.76%

Source: Ownwell

Property Tax Assessment Values Across Gary, Panola County, Texas

When examining property taxes in Gary, 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 Panola 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 Panola 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 Gary. For example, the median home price in Gary is $59,560, with tax bills ranging significantly across the county. Zip code 75643 has the highest median home price at $59,560.

Property Tax Assessment Values Across Gary, Panola County, Texas

Source: Ownwell

$50,925

$95,350

$139,775

Median Gary Market Value

$59,560

Median Panola County Market Value

$71,020

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Gary, Panola County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
75643	$9,926	$26,975	$59,560	$119,615	$195,295

Source: Ownwell

Property Tax Bills Across Gary, Panola County, Texas

In Gary, located in Panola County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. The median home price in Gary is $59,560. The property tax rate is applied to this assessed value to determine the tax bill. The tax bills in Gary range from the 25th percentile at $447 to the 90th percentile at $3,357, with a median tax bill of $993. This is significantly lower than the national median property tax bill of $2,400. Despite the lower tax bills, homeowners in Gary can still benefit from appealing their property taxes. Factors such as changes in property value, exemptions, and local tax rates can influence the final tax bill. Ownwell assists homeowners by identifying potential savings through property tax appeals and ensuring they receive all applicable exemptions. By leveraging expert knowledge and local insights, Ownwell helps homeowners reduce their property tax burden, potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across Gary, Panola County, Texas

Source: Ownwell

$704

$1,250

$1,796

Median Gary Tax Bill

$993

Median Panola County Tax Bill

$1,139

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Gary, Panola County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
75643	$169	$447	$993	$1,994	$3,357

Source: Ownwell