Plano, Texas Property Taxes
The median property tax rate in Plano, TX is 1.53%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $482,804 in Plano, the typical annual property tax bill reaches $7,403, exceeding the national median of $2,690. Property taxes in Plano are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Plano'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 Plano 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
Plano, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Plano, Texas Tax Savings
Ownwell’s Plano Property Tax Bill Calculator is designed to help homeowners, real estate investors, and potential buyers estimate their annual property taxes in Plano with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plano to provide an estimate of your property tax bill. This valuable tool not only clarifies potential tax liabilities but also demonstrates how Ownwell can assist in reducing property taxes in Plano. For those interested in more detailed insights, scroll down to explore trends at the neighborhood level. Your property's assessed value is determined by the county for tax calculations and incorporates any applicable exemptions.
Property Tax Rates Across Plano, Texas
Property taxes in Plano, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plano is 1.53%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Plano set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plano 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 Plano's effective property tax rate to other counties in Texas and the national median. For comparison, the 75075 zip code has the highest median property tax rate of 1.56%, while the 75025 zip code has the lowest median tax rate of 1.47%. Understanding how these cities compare with Plano provides valuable insights into the varying tax landscape across Collin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plano Tax Rate
1.53%
Average Collin County Tax Rate
1.60%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plano, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75023 | 1.39% | 1.46% | 1.55% | 1.73% | 1.73% |
| 75024 | 1.33% | 1.42% | 1.53% | 1.68% | 1.73% |
| 75025 | 1.33% | 1.39% | 1.47% | 1.68% | 1.73% |
| 75074 | 1.36% | 1.44% | 1.56% | 1.73% | 1.73% |
| 75075 | 1.41% | 1.48% | 1.56% | 1.73% | 1.73% |
| 75093 | 1.36% | 1.43% | 1.54% | 1.69% | 1.73% |
| 75094 | 1.31% | 1.40% | 1.47% | 1.73% | 1.73% |
Source: Ownwell
$1,148
Average Plano Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Plano, Texas
In Plano, 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 Collin 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 in Plano 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. The highest median tax bill in Plano is $10,420 in the 75093 zip code, while the lowest median tax bill is $5,544 in the 75074 zip code. Being aware of these valuation processes in Plano helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plano Assessed Value
$482,804
Average Collin County Assessed Value
$477,029
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plano, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75023 | $307,516 | $346,771 | $415,229 | $503,140 | $589,093 |
| 75024 | $420,092 | $517,630 | $589,953 | $683,160 | $830,862 |
| 75025 | $379,268 | $457,494 | $548,430 | $635,844 | $722,891 |
| 75074 | $216,384 | $277,428 | $355,470 | $472,236 | $607,712 |
| 75075 | $315,739 | $383,795 | $438,212 | $489,536 | $554,982 |
| 75093 | $402,088 | $487,314 | $692,000 | $909,074 | $1,290,955 |
| 75094 | $400,699 | $458,040 | $530,304 | $576,964 | $686,815 |
Source: Ownwell
$1,148
Average Plano Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Plano, Texas
In Plano, located in Collin County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the Collin County Appraisal District and reflects the market value of the property. Homeowners in Plano face property tax rates that can lead to significant tax bills, with the median home price at $482,804. Tax bills in the area range widely, with the 25th percentile at $5,972 and the 75th percentile at $9,271. The highest median tax bill in the region is $10,420 in the 75093 zip code, while the lowest median tax bill is $5,544 in the 75074 zip code. Ownwell helps homeowners save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing the assessed value and market data, Ownwell identifies opportunities to challenge over-assessments, potentially lowering the tax burden. This service ensures homeowners are not overpaying and can significantly reduce their annual property tax expenses.
Average Plano Tax Bill
$7,403
Average Collin County Tax Bill
$7,555
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Plano, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75023 | $4,857 | $5,520 | $6,463 | $7,725 | $9,014 |
| 75024 | $6,510 | $7,681 | $9,022 | $10,435 | $12,401 |
| 75025 | $5,884 | $6,905 | $8,110 | $9,370 | $10,761 |
| 75074 | $3,370 | $4,364 | $5,544 | $7,292 | $9,232 |
| 75075 | $4,972 | $5,943 | $6,755 | $7,681 | $8,790 |
| 75093 | $6,273 | $7,690 | $10,420 | $13,724 | $18,856 |
| 75094 | $5,788 | $6,814 | $7,874 | $8,801 | $11,197 |
Source: Ownwell
$1,148
Average Plano Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Collin Appraisal District | |
| Phone | (469) 742-9200 |
| Website | esearch.collincad.org |
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