76240 Property Tax Rate

Property owners in ZIP code 76240 (Gainesville, Texas) pay a median of $2,694/year in property taxes on homes valued at $207,600. This translates to an effective tax rate of 1.30%, which is 4% below the Texas state average of 1.35%.

The monthly property tax burden for a median-valued home in 76240 is approximately $225, which factors into escrow payments on mortgages. This ZIP code is located within Cooke County. This is $437 less than the Texas average of $3,131/year.

Compared to similar ZIP codes in Texas, 76240 has lower property taxes. ZIP codes with similar effective rates include 76832 (1.30%) and 76621 (1.30%).

In Gainesville, property taxes represent approximately 4.0% of the median household income of $67,056, providing context for the relative tax burden on homeowners in this area.

Texas has no state income tax and limits annual homestead appraisal increases to 10%, but you must file the Homestead Exemption with the Cooke County Appraisal District by April 30 to activate this protection. The exemption reduces the taxable portion of your home's value across school, county, and city taxes, typically saving $500–$1,000 per year. File your exemption application with the Cooke County Appraisal District before April 30 of the year after purchase and request a copy of your Notice of Appraised Value to verify accuracy.