Average Tax Assessment in Palo Pinto County
Real Estate Values and Property Tax Valuation in Palo Pinto County, Texas
Palo Pinto County has a total of 15,295 properties with a cumulative value of $3.0B, representing 0.14% of all real estate value in Texas. Property taxes in Palo Pinto County totaled $49.0M, with the average homeowner paying $3,212 in property taxes, which is lower than the state average of $4,015. The average property tax rate in Palo Pinto County is 1.66%, while the state average is 1.69%. Property taxes are 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 | |
|---|---|
| TexasFile Clerk Records | - |
| Palo Pinto Appraisal District | (940) 659-1281 |
| Palo Pinto Clerk | (940) 659-1277 |
| 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 Palo Pinto County
Residential Property Taxes by Cities in Palo Pinto County
Palo Pinto County has an average property tax rate of 1.66%, which is slightly lower than the state average of 1.83%. Property taxes in Palo Pinto County are collected by the county and distributed to the cities and school districts. The average property tax bill in Palo Pinto County is $3,212. Property tax rates vary across the cities in the county, with Strawn having the highest effective property tax rate of 1.81%, and Santo having the lowest effective property tax rate of 1.05%. Property taxes are an important source of revenue for the county and its cities, and the rates are set to ensure that the county and its cities are able to provide the necessary services to their residents.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Palo Pinto 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.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gordon | $19,384 | $53,325 | $122,055 | $254,750 | $460,130 |
| Graford | $21,894 | $56,960 | $217,690 | $459,470 | $865,580 |
| Graham | $25,130 | $86,020 | $261,210 | $557,670 | $882,108 |
| Mineral Wells | $21,466 | $45,750 | $88,660 | $149,900 | $224,800 |
| Palo Pinto | $13,510 | $51,110 | $123,990 | $244,885 | $366,945 |
| Santo | $26,946 | $58,680 | $131,280 | $287,870 | $508,600 |
| Strawn | $14,702 | $37,252 | $85,590 | $207,645 | $616,447 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Palo Pinto County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gordon | $279 | $757 | $1,740 | $3,796 | $7,180 |
| Graford | $276 | $813 | $3,452 | $8,310 | $15,285 |
| Graham | $382 | $1,184 | $4,215 | $9,040 | $14,977 |
| Mineral Wells | $290 | $717 | $1,496 | $2,881 | $4,330 |
| Palo Pinto | $160 | $446 | $1,372 | $3,115 | $5,071 |
| Santo | $266 | $660 | $1,355 | $2,850 | $5,312 |
| Strawn | $218 | $554 | $1,571 | $3,753 | $10,945 |
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.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gordon | 1.44% | 1.42% | 1.43% | 1.49% | 1.56% |
| Graford | 1.26% | 1.43% | 1.59% | 1.81% | 1.77% |
| Graham | 1.52% | 1.38% | 1.61% | 1.62% | 1.70% |
| Mineral Wells | 1.35% | 1.57% | 1.69% | 1.92% | 1.93% |
| Palo Pinto | 1.18% | 0.87% | 1.11% | 1.27% | 1.38% |
| Santo | 0.99% | 1.12% | 1.03% | 0.99% | 1.04% |
| Strawn | 1.48% | 1.49% | 1.84% | 1.81% | 1.78% |
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Real Estate Values in Palo Pinto County
The data from Redfin shows that the median home price in Palo Pinto County, Texas has increased significantly from October 2022 to October 2023, with a 105.51% increase. This indicates that the housing market in Palo Pinto County is booming, with a 17-unit increase in home inventory over the same period. This trend is likely to continue, as the demand for housing in the area continues to rise.
Average Home Value in Palo Pinto County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Palo Pinto County
Last updated: November 2023
Percent Change in New Home Listings in Palo Pinto County
Last updated: November 2023
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Mortgage Rates in Palo Pinto County
Palo Pinto County has a total of $589.7M in outstanding home mortgage loans. This represents 3.3K loans, or approximately 8.3% of the total home value in the county. The median mortgage rate in the county varies across cities, with Graham having the highest rate at 4.21%, and Palo Pinto having the lowest rate at 3.93%. This difference in rates can be attributed to the varying economic conditions in each city, as well as the availability of lenders and loan products.
Overall, the mortgage market in Palo Pinto County is healthy, with a total of $589.7M in outstanding loans and a median rate that is lower than the national average. This indicates that homeowners in the county are able to access competitive rates and products, and that the local economy is strong enough to support the mortgage market.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Palo Pinto County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gordon | $28,855 | $63,445 | $120,176 | $202,333 | $325,513 |
| Graford | $36,631 | $90,556 | $236,382 | $396,578 | $643,731 |
| Graham | $48,091 | $87,789 | $189,034 | $331,519 | $655,441 |
| Mineral Wells | $24,064 | $48,583 | $91,517 | $152,121 | $220,378 |
| Palo Pinto | $32,921 | $65,985 | $129,788 | $218,565 | $346,016 |
| Santo | $28,228 | $60,286 | $123,475 | $235,884 | $407,699 |
| Strawn | $20,089 | $66,640 | $128,891 | $273,945 | $554,761 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Palo Pinto County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gordon | 2.83% | 3.47% | 4.00% | 4.80% | 6.12% |
| Graford | 2.90% | 3.37% | 4.00% | 4.50% | 5.34% |
| Graham | 2.98% | 3.69% | 4.21% | 4.50% | 5.05% |
| Mineral Wells | 2.90% | 3.52% | 4.12% | 5.10% | 6.19% |
| Palo Pinto | 2.90% | 3.44% | 3.93% | 5.00% | 6.15% |
| Santo | 2.83% | 3.44% | 4.12% | 5.20% | 6.26% |
| Strawn | 2.90% | 3.43% | 3.93% | 4.98% | 6.16% |
Housing Expenses in Palo Pinto County, Texas
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