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City tax rates in Collin County

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For anybody that is looking to buy a house, the most important things are the amenities , how good are the schools, commuting, what the neighborhood has to offer. Most likely almost anybody (there are always some of that are checking everything) is looking for local city tax rate. While the city tax rate is a minor thing, any buyer must consider it: the adds to the property tax that everybody has to pay. And here in Texas, property taxes tend to be very high.

For home buyers looking to buy a house in Collin County, I have here a list with the small cities tax rates that can be useful.

  • Wylie                 $0.868900
  • Farmesville      $0.787564
  • Sachse              $0.757279
  • Princeton.         $0.689890
  • Celina.               $0.645000
  • Richardson.      $0.635160
  • Anna.                 $0.629000
  • Melissa.             $0.610000
  • McKinney.         $0.583000
  • Allen.                  $0.520000
  • Prosper.             $0.520000
  • Murphy.              $0.510000
  • Plano                  $0.488600
  • Frisco.                $0.460000
  • Parker.                $0.365984
  • Fairview.             $0.359999
  • Lucas.                 $0.317948
  • Lowry Crossing $0.229536
  • New Hope.         $0.196000

Collin county has a property tax rate of $0.225.
Collin county community college is adding another $0.081960
On top of that, there are property taxes for school districts that varies by district.

Bottom line: the property taxes could make a difference for the budget.

How Property Taxes Are Calculated?

Residential property in Texas is appraised annually by county appraisal districts. The appraisal districts are responsible for determining the current market value of all property within the county, on which tax payments are based. Disagreements about any findings are brought to an appraisal review board made up of local citizens.

Homes are appraised at the beginning of the year, and appraisal review board hearings generally begin in May. Tax bills are sent out beginning on October 1, and are due by January 31 of the following year.

There are a number of exemptions that help lower your property taxes in Texas. The most common is the Homestead Exemption. The homestead exemption is available to homeowners in their primary residence, and is equal to $15,000.

However, only school districts are required to offer this exemption (other types of taxing districts have the option of doing so). So, if your home is worth $150,000 and you receive the homestead exemption, the school district tax rate will only apply to $135,000 of you home value.

Persons who are older than 64 or disabled can claim an additional exemption of $10,000. Like the homestead exemption, only school districts are required to offer this exemption.

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