Average Tax Assessment in Gaines County
Real Estate Values and Property Tax Valuation in Gaines County, Texas
Gaines County has a total of 7,046 properties with a cumulative value of $695.2M. This represents 0.03% of all real estate value in Texas. Property taxes in Gaines County totaled $13.8M, with an average homeowner paying $1,998 in property taxes compared to the state average of $4,015. The average property tax rate in Gaines County is 1.99%, while the state average is 1.69%. Properties are typically valued for tax purposes based on their market value.
The property tax timeline in Texas begins on January 1st, when the property valuation date is set. Property value notices are issued between April and May, and the property tax appeal deadline is May 15th or 30 days after the notices are issued. The real property tax bill is due on January 31st for the preceding year's gross tax bills.
Updated November 01, 2023
Important Links | |
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Gaines Clerk | (432) 758-4003 |
TexasFile Clerk Records | - |
Important Dates | |
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Real Property Tax Bill Due (1st of #): | January 31st, Gross tax bills for preceding year |
Property Valuation Date: | January 1st |
Property Value Notices Issued: | April - May |
Property Tax Appeal Deadline: | May 15th or 30 days after notices are issued |
Property Tax Bills Issued: | October 1st |
Available Exemptions | |
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Early Payment Discount | |
Senior | Available |
Disabled | Available |
Homestead | Available |
Veteran | Available |
Solar/Wind | Available |
Charitable | Available |
Don't Miss Your Property Tax Appeal Deadline
Real Estate Statistics in Gaines County
Residential Property Taxes by Cities in Gaines County
Gaines County has an average property tax rate of 1.99%, which is slightly lower than the state average of 2.06%. This rate is applied to the assessed value of a property, and the average property tax bill in Gaines County is $1,998. Property tax rates can vary significantly across the cities in Gaines County, with Seagraves having the highest effective property tax rate of 2.07%, and Seminole having the lowest effective property tax rate of 2.03%. This means that property owners in Seagraves will pay more in property taxes than those in Seminole. Property taxes are an important source of revenue for local governments, and it is important for property owners to be aware of the rates in their area.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Gaines County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Gaines County.
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
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Real Estate Values in Gaines County
The median home price in Gaines County, Texas has seen a significant increase of 25.87% from October 2022 to October 2023, rising from $214.5K to $270.0K. This is indicative of a strong housing market in the area, as the home inventory has also increased from 70 to 75 in the same period. This suggests that demand for housing in Gaines County is high, and that the market is likely to remain strong in the near future.
Average Home Value in Gaines County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Gaines County
Last updated: November 2023
Percent Change in New Home Listings in Gaines County
Last updated: November 2023
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Mortgage Rates in Gaines County
Gaines County has a total of $176.8M in outstanding home mortgage loans. This represents 1.3K loans, or approximately 8.5% of the total home value in the county. The median mortgage rate in Gaines County varies across cities, with Seagraves having the highest rate at 4.14%, and Seminole having the lowest rate at 3.93%. This variation in rates can be attributed to the differences in local economic conditions and the availability of lenders in each city.
Overall, the mortgage market in Gaines County is healthy and competitive, with a wide range of rates and loan amounts available to borrowers. Homeowners in the county can benefit from the competitive market by shopping around for the best rate and loan terms that fit their needs. With the right loan, homeowners can save money on their monthly payments and build equity in their homes faster.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Gaines County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Gaines County.
Housing Expenses in Gaines County, Texas
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