Average Tax Assessment in Gray County
Real Estate Values and Property Tax Valuation in Gray County, Texas
Gray County has a total of 9,280 properties, with a cumulative value of $602.6M. This represents 0.03% of all real estate value in Texas. Property taxes in Gray County totaled $12.0M, with an average of $1,315 paid by each homeowner, which is significantly lower than the state average of $4,015. The average property tax rate in Gray County is 1.99%, slightly higher than the state average of 1.69%. Property taxes are calculated based on the assessed value of the property, which is typically lower than the 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 | |
|---|---|
| Gray Clerk | (806) 669-8004 |
| TexasFile Clerk Records | - |
| Gray Register of Deeds | (620) 855-3835 |
| Gray Tax Collector | (207) 657-3339 |
| Important Dates | |
|---|---|
| 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 | |
|---|---|
| Early Payment Discount | |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Gray County
Residential Property Taxes by Cities in Gray County
Gray 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 to calculate the amount of taxes due. Property taxes in Gray County are collected by the county and distributed to the cities, school districts, and other local governments.
The effective property tax rate in Gray County varies across the cities, with Pampa having the highest rate at 2.02% and Mclean having the lowest rate at 1.57%. Property taxes in Gray County are used to fund essential services such as police and fire protection, road maintenance, and public schools. Property owners in Gray County can expect to pay an average of $1,315 in property taxes each year.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Gray 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 Gray 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 Gray County
The data from Redfin shows that the median home price in Gray County, Texas has increased significantly from October 2022 to October 2023, with a 276.26% increase. This indicates that the housing market in Gray County is experiencing a strong upward trend in home prices. Additionally, the home inventory in Gray County has decreased from 61 in October 2022 to 50 in October 2023, indicating that there is a high demand for housing in the area.
Average Home Value in Gray County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Gray County
Last updated: November 2023
Percent Change in New Home Listings in Gray County
Last updated: November 2023
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Mortgage Rates in Gray County
Gray County has an outstanding loan amount of $235.9M across home mortgages. This is equivalent to around 2,000 outstanding loans in the county. The median mortgage rate in Gray County varies across cities, with Mclean having the highest rate at 4.3%, and Pampa having the lowest rate at 4.08%. This difference in rates can have a significant impact on the total value of a home loan, as a higher rate can lead to higher monthly payments.
Overall, the total outstanding loan amount in Gray County is relatively high compared to the total home value in the county. This suggests that homeowners in Gray County are taking on larger mortgages than the average, and that the variation in rates across cities can have a significant impact on the total cost of a home loan. It is important for homeowners to consider the different rates available in their area before taking out a mortgage, as this can help them save money in the long run.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Gray County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Gray County.
Housing Expenses in Gray County, Texas
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