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Prosper, Collin County, Texas Property Taxes

  • Median Prosper, TX effective property tax rate: 1.72%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.

  • Median Prosper, TX home value: $807,000

  • Median annual Prosper, TX tax bill: $12,289, $9,889 higher than the national median property tax bill of $2,400.

How are property taxes in Collin County calculated?

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

Last Updated March 1, 2025

Prosper, Collin County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.72%

Estimate Property Tax Bill

$13,880

$12,881

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities determine tax rates, leading to significant variation within a state. Each year, counties estimate the budget needed for services and divide it by the total value of all taxable property in their jurisdiction to calculate the property tax rate. This annual process, though influenced by votes and laws, essentially boils down to this calculation.

In Prosper, located in Collin County, the effective property tax rate reflects this process. Compared to other cities in Texas, Prosper's rate offers a unique perspective on local taxation. With Texas having a diverse range of property tax rates across its cities, Prosper stands out for its consistency. The median property tax rate in Texas is notably higher than the national median of 1.02%, highlighting the state's distinct approach to property taxation.

Understanding Prosper's property tax rate in comparison to the state and national medians provides valuable insight for property owners. It underscores the importance of being informed about local tax obligations and the potential benefits of appealing or seeking exemptions. Property owners in Prosper can benefit from exploring these options to ensure they are not overburdened by their tax responsibilities.

Property Tax Rates Across Prosper, 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 Prosper Tax Rate

1.72%

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 Prosper, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
750781.59%1.66%1.72%1.82%1.99%

Source: Ownwell

Property Tax Assessment Values Across Prosper, Collin County, Texas

When examining property taxes in Prosper, Texas, 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 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 Prosper. For example, the median home price in Prosper is $807,000, with tax bills ranging significantly across the county. Zip code 75078 has the highest median home price at $807,000.

Property Tax Assessment Values Across Prosper, Collin County, Texas

Source: Ownwell

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$284,449

$817,099

$1,349,748

Median Prosper Market Value

$807,000

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 Prosper, Collin County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
75078$552,825$671,398$807,000$977,661$1,252,631

Source: Ownwell

Property Tax Bills Across Prosper, Collin County, Texas

In Prosper, located within Collin County, TX, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local appraisal district and reflects the market value of the property. The property tax rate is then applied to this assessed value to calculate the annual tax bill. With a median home price of $807,000, Prosper homeowners often face significant tax bills. For instance, the 25th percentile tax bill is $9,987, while those in the 75th percentile pay around $15,599. Comparatively, the national median property tax bill is $2,400, highlighting the higher tax obligations faced by Prosper residents. The highest and lowest median tax bill in Prosper, both at $12,289, occur within the 75078 zip code. Homeowners can benefit from Ownwell's expertise in navigating property tax appeals and exemptions. By leveraging local market data and understanding the nuances of the appraisal process, Ownwell helps homeowners potentially reduce their tax liabilities, ensuring they pay a fair amount.

Property Tax Bills Across Prosper, Collin County, Texas

Source: Ownwell

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$797

$9,028

$17,259

Median Prosper Tax Bill

$12,289

Median Collin County Tax Bill

$6,925

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Prosper, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
75078$7,570$9,987$12,289$15,599$20,066

Source: Ownwell

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