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Melissa, Collin County, Texas Property Taxes

  • Median Melissa, TX effective property tax rate: 1.63%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.

  • Median Melissa, TX home value: $450,259

  • Median annual Melissa, TX tax bill: $7,221, $4,821 higher than the national median property tax bill of $2,400.

How are property taxes in Collin County calculated?

Property taxes in Melissa, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Melissa’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Melissa, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Melissa, Collin County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.63%

Estimate Property Tax Bill

$7,339

$6,811

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Melissa Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Melissa with just two data points. By entering your property's estimated assessed value, our calculator applies Melissa’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Collin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Melissa, Collin County, Texas

Local government entities determine property tax rates, leading to significant variations within a state. Each year, counties estimate the budget needed for public services and divide this by the total assessed value of all taxable properties in their jurisdiction, resulting in the property tax rate. Though votes and legislation play roles in setting these rates and budgets, this is the crux of the annual process.

In Melissa, located in Collin County, the effective property tax rate stands at 1.63%, which is notably higher than the national median rate of 1.02%. This elevated rate reflects the county's budgetary needs and the total value of taxable properties. When comparing Melissa's tax rate to other cities in Texas, it aligns with the state's median, emphasizing the variation within the state. Understanding these differences can provide valuable insights for property owners and potential buyers, highlighting the importance of staying informed about local property tax trends and regulations.

Property Tax Rates Across Melissa, Collin County, Texas

Source: Ownwell

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0.21%

1.09%

1.98%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Melissa Tax Rate

1.63%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Collin County Tax Rate

1.49%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Melissa, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
754541.45%1.55%1.63%1.94%1.94%

Source: Ownwell

Property Tax Assessment Values Across Melissa, Collin County, Texas

When examining property taxes in Melissa, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Collin County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: Collin County sends assessment notices in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Melissa. For example, the median home price in Melissa is $450,259, with tax bills ranging significantly across the county. ZIP code 75454 has the highest median home price at $450,259.

Property Tax Assessment Values Across Melissa, Collin County, Texas

Source: Ownwell

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$284,449

$817,099

$1,349,748

Median Melissa Market Value

$450,259

Median Collin County Market Value

$496,962

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Melissa, Collin County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
75454$268,538$378,022$450,259$529,022$617,489

Source: Ownwell

Property Tax Bills Across Melissa, Collin County, Texas

In Melissa, located in Collin County, Texas, property tax bills are calculated based on the assessed value of a property. The assessed value often aligns closely with the market value, and local tax rates are applied to this figure to determine the tax bill. With a median home price of $450,259, homeowners in Melissa can anticipate a tax bill that significantly exceeds the national median tax bill of $2,400. In fact, tax bills in Melissa range from $5,569 at the 25th percentile to $10,308 at the 90th percentile, with a median tax bill of $7,221. This places a substantial financial burden on homeowners. Ownwell can assist homeowners in Melissa by reviewing their property assessments to identify potential inaccuracies and filing appeals on their behalf. By leveraging expert knowledge and local market insights, Ownwell can help reduce property tax liabilities, ensuring homeowners pay only their fair share. This service can result in significant savings, providing much-needed financial relief for property owners.

Property Tax Bills Across Melissa, Collin County, Texas

Source: Ownwell

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$797

$9,028

$17,259

Median Melissa Tax Bill

$7,221

Median Collin County Tax Bill

$6,925

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Melissa, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
75454$3,174$5,569$7,221$8,662$10,308

Source: Ownwell

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