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Princeton, Collin County, Texas Property Taxes

  • Median Princeton, TX effective property tax rate: 1.53%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.

  • Median Princeton, TX home value: $308,149

  • Median annual Princeton, TX tax bill: $4,937, $2,537 higher than the national median property tax bill of $2,400.

How are property taxes in Collin calculated?

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

Last Updated March 1, 2025

Princeton, Collin County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.53%

Estimate Property Tax Bill

$4,715

$4,375

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Princeton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Princeton with just two data points. By entering your property's estimated assessed value, our calculator applies Princeton’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 Princeton, Collin County, Texas

Local government entities set tax rates, which can vary widely within a state. This variance occurs because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Princeton’s effective property tax rate to other cities in Texas and the median property tax rates in Texas and the U.S.

Property Tax Rates Across Princeton, 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 Princeton Tax Rate

1.53%

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 Princeton, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
754071.06%1.48%1.53%1.93%1.95%

Source: Ownwell

Property Tax Assessment Values Across Princeton, Collin County, Texas

When examining property taxes in Princeton, 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.

In Collin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Princeton.

For example, the median home price in Princeton is $308,149, with tax bills ranging significantly across the county. Zip code 75407 has the highest median home price at $308,149.

Property Tax Assessment Values Across Princeton, Collin County, Texas

Source: Ownwell

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$284,449

$817,099

$1,349,748

Median Princeton Market Value

$308,149

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 Princeton, Collin County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
75407$110,957$240,610$308,149$356,444$410,400

Source: Ownwell

Property Tax Bills Across Princeton, Collin County, Texas

In Princeton, located in Collin County, TX, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is based on the market value of the property, which can fluctuate due to changes in the housing market or improvements made to the home. With a median home price of $308,149, homeowners in Princeton face a median property tax bill of $4,937. This is significantly higher than the national median property tax bill of $2,400, reflecting the area's robust real estate market. Factors such as location, property size, and improvements can influence the total tax bill, impacting homeowners' annual expenses.

Ownwell offers a solution for homeowners seeking to reduce their property tax burden. By providing expert property tax appeal services, Ownwell helps ensure that homeowners are not overpaying. Our team reviews your property assessment and identifies discrepancies, potentially lowering your tax bill. This service can be particularly valuable in Princeton, where property taxes are notably above the national average.

Property Tax Bills Across Princeton, Collin County, Texas

Source: Ownwell

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$797

$9,028

$17,259

Median Princeton Tax Bill

$4,937

Median Collin County Tax Bill

$6,925

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Princeton, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
75407$991$3,080$4,937$6,124$7,087

Source: Ownwell

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