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Richardson, Collin County, Texas Property Taxes

  • Median Richardson, TX effective property tax rate: 1.57%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.

  • Median Richardson, TX home value: $559,467

  • Median annual Richardson, TX tax bill: $8,010, $5,610 higher than the national median property tax bill of $2,400.

How are property taxes in Collin County calculated?

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

Last Updated March 1, 2025

Richardson, Collin County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.57%

Estimate Property Tax Bill

$8,784

$8,151

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities determine tax rates, which can differ significantly within a state. This variation occurs because each county estimates its required budget annually 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 votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Richardson, located in Collin County, the effective property tax rate reflects this process. The median property tax rate in Texas is 1.57%, which is higher than the national median of 1.02%. Richardson's tax rate aligns closely with the state median, showcasing the consistency within the region. However, within Richardson, the highest median tax rate is slightly higher at 1.58% in the 75080 zip code, while the lowest is 1.57% in the 75082 zip code. Comparing these rates to the national median property tax bill of $2,400 highlights the regional differences in property tax assessments. Understanding these rates can help property owners in Richardson make informed decisions about their property tax obligations.

Property Tax Rates Across Richardson, 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 Richardson Tax Rate

1.57%

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 Richardson, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
750801.32%1.40%1.58%1.65%1.82%
750821.32%1.42%1.57%1.63%1.82%

Source: Ownwell

Property Tax Assessment Values Across Richardson, Collin County, Texas

When examining property taxes in Richardson, 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 Richardson. For example, the median home price in Richardson is $559,467, with tax bills ranging significantly across the county. Zip code 75082 has the highest median home price at $565,114.

Property Tax Assessment Values Across Richardson, Collin County, Texas

Source: Ownwell

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$284,449

$817,099

$1,349,748

Median Richardson Market Value

$559,467

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 Richardson, Collin County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
75080$273,337$465,365$536,846$646,000$777,000
75082$421,771$489,925$565,114$655,000$740,506

Source: Ownwell

Property Tax Bills Across Richardson, Collin County, Texas

In Richardson, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the Collin County appraisal district. The tax rate is then applied to this assessed value to calculate the annual tax bill. Factors like the property's location, size, and condition can influence its assessed value. In Richardson, the median home price is $559,467, leading to varying tax bills across different percentiles. For instance, homeowners at the 25th percentile face a tax bill of $6,330, while those at the 90th percentile see bills as high as $11,661. The national median property tax bill is $2,400, making Richardson's figures notably higher. This can significantly impact homeowners, especially those in areas with the highest median tax bills, such as zip code 75080, where the bill is $8,030. Ownwell provides expert property tax appeal services to help homeowners potentially reduce their tax burden, ensuring they only pay what is fair and accurate based on their property's true assessed value.

Property Tax Bills Across Richardson, Collin County, Texas

Source: Ownwell

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$797

$9,028

$17,259

Median Richardson Tax Bill

$8,010

Median Collin County Tax Bill

$6,925

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Richardson, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
75080$4,158$6,321$8,030$10,116$12,580
75082$5,305$6,344$8,006$9,611$11,377

Source: Ownwell

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