Collinsville, Texas Property Taxes
The median property tax rate in Collinsville, TX is 1.05%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $332,248, the typical annual property tax bill in Collinsville is approximately $2,792, which is just below the national median of $2,690. Property taxes in Collinsville are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Collinsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Collinsville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Collinsville, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Collinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collinsville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Collinsville, Texas
Property taxes in Collinsville, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collinsville is 1.05%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Collinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collinsville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Collinsville's effective property tax rate to other counties in Texas and the national median. For comparison, the 76233 zip code has the highest median property tax rate of 1.05%, while the 76233 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Collinsville provides valuable insights into the varying tax landscape across Cooke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collinsville Tax Rate
1.05%
Average Cooke County Tax Rate
1.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collinsville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76233 | 0.67% | 0.87% | 1.05% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Collinsville, Texas
In Collinsville, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Cooke County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Collinsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Collinsville is $2,792 in the 76233 zip code, which is also the lowest median tax bill.
Average Collinsville Assessed Value
$332,248
Average Cooke County Assessed Value
$215,126
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collinsville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76233 | $61,705 | $153,912 | $332,248 | $518,895 | $794,381 |
Source: Ownwell
Property Tax Bills Across Collinsville, Texas
In Collinsville, located in Cooke County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the Cooke County Appraisal District, which evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Collinsville, the tax bill can vary significantly. The 25th percentile tax bill is $1,252, indicating that a quarter of homeowners pay less than this amount. On the higher end, the 75th percentile tax bill is $5,039, and the 90th percentile reaches $7,101. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how local rates and home values impact their tax obligations. Homeowners in Collinsville should be aware that fluctuations in their property's assessed value or changes in the tax rate can significantly affect their annual tax bill. Keeping informed and seeking exemptions or appeals when necessary can help manage these costs effectively.
Average Collinsville Tax Bill
$2,792
Average Cooke County Tax Bill
$2,905
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Collinsville, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76233 | $498 | $1,252 | $2,792 | $5,039 | $7,101 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Cooke Appraisal District | |
| Website | propaccess.trueautomation.com |