Timpson, Panola County, Texas Property Taxes

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

Median Timpson, TX effective property tax rate: 1.51%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Timpson, TX home value: $86,350
Median annual Timpson, TX tax bill: $1,339, $1,061 lower than the national median property tax bill of $2,400.

How are property taxes in Panola County calculated?

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

Last Updated March 1, 2025

Timpson, Panola County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.51%

Estimate Property Tax Bill

$1,304

$1,210

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

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

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget for services and dividing it by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws influence tax rates and budgets, this is the core annual process. In Timpson, located in Panola County, Texas, the property tax rate is a significant consideration for homeowners. The effective property tax rate in Timpson is 1.51%, which is higher than the national median property tax rate of 1.02%. This rate reflects the county's budgetary needs and the total assessed value of properties. Compared to other areas in Texas, Timpson's rate is at the higher end of the spectrum. Homeowners in Timpson may face higher tax bills, but these funds contribute to essential local services. Understanding these dynamics can help property owners make informed decisions about their investments and potential tax appeals.

Property Tax Rates Across Timpson, 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 Timpson Tax Rate

1.51%

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 Timpson, Panola County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
75975	1.46%	1.51%	1.51%	1.76%	1.76%

Source: Ownwell

Property Tax Assessment Values Across Timpson, Panola County, Texas

When examining property taxes in Timpson, 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 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 April. 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 Timpson. For example, the median home price in Timpson is $86,350, with tax bills ranging significantly across the county. 75975 has the highest median home price at $86,350.

Property Tax Assessment Values Across Timpson, Panola County, Texas

Source: Ownwell

$50,925

$95,350

$139,775

Median Timpson Market Value

$86,350

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 Timpson, Panola County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
75975	$18,839	$39,258	$86,350	$175,195	$277,846

Source: Ownwell

Property Tax Bills Across Timpson, Panola County, Texas

In Timpson, located in Panola County, TX, property tax bills are calculated based on the assessed value of a home. The median home price in Timpson is $86,350, and the property tax rate is applied to this assessed value to determine the tax bill. While the national median property tax rate is 1.02%, Timpson's tax bills can vary significantly. For instance, the 25th percentile tax bill is $586, while the 75th percentile reaches $3,049. Homeowners in Timpson might find themselves paying anywhere from $586 to $4,253, depending on factors like home value and local tax rates. Such variability can have a substantial impact on homeowners, influencing affordability and financial planning. Ownwell offers valuable assistance by identifying potential savings through property tax appeals and exemptions. By leveraging expertise and local knowledge, Ownwell helps homeowners ensure they are not overpaying on their property taxes, potentially saving them significant amounts annually and providing peace of mind in managing their property expenses.

Property Tax Bills Across Timpson, Panola County, Texas

Source: Ownwell

$704

$1,250

$1,796

Median Timpson Tax Bill

$1,339

Median Panola County Tax Bill

$1,139

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Timpson, Panola County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
75975	$285	$586	$1,339	$3,049	$4,253

Source: Ownwell