Average Tax Assessment in Panola County
Real Estate Values and Property Tax Valuation in Panola County, Texas
Panola County has a total of 10,700 properties with a cumulative value of $996.5M. This represents 0.05% of all real estate value in Texas. Property taxes in Panola County amount to $5.4M, with an average homeowner paying $1,000 in property taxes compared to the state average of $4,015. The average property tax rate in Panola County is 0.54%, while the state average is 1.69%. Properties are 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 | |
|---|---|
| TexasFile Clerk Records | - |
| Panola Appraisal District | (903) 693-2891 |
| Panola Tax Collector | (903) 693-0340 |
| 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 Panola County
Residential Property Taxes by Cities in Panola County
Panola County has an average property tax rate of 0.54%, which is lower than the state average of 1.19%. This makes it an attractive place to live for those looking to keep their property taxes low. The city of Carthage has the highest effective property tax rate in the county at 0.59%, while the city of Beckville has the lowest effective property tax rate at 0.38%. This shows that there is a significant difference in property tax rates between the two cities, with Carthage having a higher rate than Beckville. This difference in rates can be attributed to the different economic and demographic factors of each city. Overall, Panola County has a relatively low property tax rate compared to other counties in the state, making it an attractive place to live for those looking to keep their property taxes low.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Panola 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 |
|---|---|---|---|---|---|
| Beckville | $7,890 | $23,760 | $61,690 | $131,960 | $230,210 |
| Carthage | $10,696 | $29,680 | $72,120 | $143,460 | $215,504 |
| De Berry | $8,070 | $21,432 | $49,055 | $105,918 | $191,391 |
| Gary | $10,296 | $24,112 | $54,575 | $106,812 | $183,139 |
| Long Branch | $10,426 | $25,360 | $61,370 | $131,310 | $214,998 |
| Tenaha | $10,676 | $25,110 | $63,810 | $124,230 | $205,392 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Panola 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 Panola County
The data from Redfin shows that home prices in Panola County, Texas have increased by 18.86% from October 2022 to October 2023. This indicates that the housing market in Panola County is strong and that home prices are on the rise. Additionally, the home inventory in Panola County has decreased from 52 in October 2022 to 49 in October 2023, suggesting that demand for housing in the area is high and that homes are selling quickly. Overall, these trends suggest that the housing market in Panola County is healthy and that home prices are likely to continue to increase in the future.
Average Home Value in Panola County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Panola County
Last updated: November 2023
Percent Change in New Home Listings in Panola County
Last updated: November 2023
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Mortgage Rates in Panola County
Panola County, Texas has an outstanding loan amount of $184.9 million across home mortgages. This amount is spread across 1.6 thousand loans, representing a significant portion of the total home value in the county. The median mortgage rate in Panola County varies significantly across cities, ranging from 3.98% in Tenaha to 4.4% in De Berry. This variation in rates can have a significant impact on the affordability of mortgages for potential home buyers in the county. As such, it is important for potential buyers to research the different rates available in the county before making a decision.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Panola County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beckville | $20,957 | $42,941 | $87,272 | $152,501 | $238,112 |
| Carthage | $19,334 | $49,898 | $94,468 | $155,735 | $227,949 |
| De Berry | $12,591 | $37,482 | $95,168 | $164,787 | $283,468 |
| Gary | $10,914 | $35,050 | $74,142 | $139,020 | $196,000 |
| Long Branch | $35,745 | $70,581 | $141,156 | $222,419 | $315,978 |
| Tenaha | $11,348 | $36,565 | $88,428 | $145,419 | $255,045 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Panola County.
Housing Expenses in Panola County, Texas
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