Leonard, Texas Property Taxes
The median property tax rate in Leonard, TX, is 1.20%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $305,078 in Leonard, the typical annual property tax bill reaches $2,633, slightly below the national median of $2,690. Property taxes in Leonard are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Leonard'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 Leonard 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
Leonard, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$3,661
$3,387
$1,148
Average Leonard, Texas Tax Savings
Ownwell’s Leonard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leonard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leonard to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Leonard. 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 Leonard, Texas
Property taxes in Leonard, Texas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leonard is 1.20%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Leonard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leonard 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 Leonard's effective property tax rate to other counties in Texas and the national median. For comparison, the 75452 zip code has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Leonard 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 Leonard Tax Rate
1.20%
Average Collin County Tax Rate
1.60%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leonard, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75452 | 0.46% | 0.80% | 1.20% | 1.46% | 1.49% |
Source: Ownwell
$1,148
Average Leonard Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Leonard, Texas
In Leonard, 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. In Leonard, 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. For example, zip code 75452 has the highest median tax bill at $2,633, which is also the lowest median tax bill in Leonard. 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 Leonard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leonard Assessed Value
$305,078
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 Leonard, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75452 | $73,275 | $145,062 | $305,078 | $536,236 | $760,974 |
Source: Ownwell
$1,148
Average Leonard Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Leonard, Texas
In Leonard, located in Collin County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the final tax bill. For instance, with a median home price of $305,078, the tax bill can vary significantly. Homeowners in the lower 25th percentile might pay around $1,269, while those in the 75th percentile could see bills as high as $5,139. The highest median tax bill in the area is $2,633, which is relatively moderate compared to the national median property tax rate of 0.99%. Factors such as home improvements, market conditions, and neighborhood developments can influence the assessed value, thus affecting the tax bill. Ownwell helps homeowners by providing expert property tax appeal and exemption services, ensuring that their properties are not over-assessed. By leveraging local expertise and a thorough understanding of tax regulations, Ownwell can help homeowners in Leonard save significantly on their property tax bills.
Average Leonard Tax Bill
$2,633
Average Collin County Tax Bill
$7,555
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Leonard, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75452 | $692 | $1,269 | $2,633 | $5,139 | $8,184 |
Source: Ownwell
$1,148
Average Leonard 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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