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Princeton, Collin County, Texas Property Taxes

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Property Taxes in Princeton, Texas

  • Median Princeton, Texas effective property tax rate: 1.49%, significantly higher than the national median of 1.02%, and slightly higher than the Texas state median of 1.48%.

  • Median Princeton, Texas home value: $263,032

  • Median annual Princeton, Texas tax bill: $4,109, $1,709 higher than the national median property tax bill of $2,400.

How are property taxes in Collin calculated?

Property taxes in Princeton, Texas 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 April 13, 2026

Princeton, Collin County, Texas Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.49%

Estimate Property Tax Bill

$3,919

$3,637

SAVE WITH OWNWELL

$774

Average Annual Tax Savings

How Does the Princeton Property Tax Calculator Work?

Use this Princeton property tax calculator to estimate your annual tax bill. Enter your property's assessed value and our calculator applies Princeton's median effective tax rate of 1.49% — based on actual property records in Collin County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Princeton's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Princeton: rates range from 1.49% in 75407 to 1.49% in 75407, primarily due to differences in school district levies and local assessment districts.

If your estimate is higher than expected, Ownwell can appeal your Princeton assessment — you only pay if we save you money.

About Princeton Property Taxes

About Property Taxes in Princeton, Collin, Texas

Princeton’s median effective property tax rate of 1.49% is higher than the Texas state median of 1.48% and higher than the national median of 1.02%. This rate reflects the Collin County base levy combined with local school district levies and Municipal Utility Districts (MUDs) that vary by subdivision throughout the city.

Property tax rates are not uniform across Princeton. Homeowners in the 75407 ZIP code carry a median effective rate of 1.49%, while those in the same ZIP also pay 1.49%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Collin County. Understanding which part of Princeton you live in can make a meaningful difference to your annual tax bill.

Princeton homeowners who believe their assessed value is too high can file a formal appeal with the local Appraisal District before the May 15, 2026 deadline each year.

If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.

Property Tax Rates Across Princeton, Collin County, Texas

As noted earlier, local government entities set tax rates, which can vary widely within a state.

Why? 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

0.49%

1.22%

1.94%

Our median effective property tax rate (tax bill Ă· 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

1.49%

Our median effective property tax rate (tax bill Ă· 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

1.30%

Median Effective Texas Tax Rate

1.48%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Princeton, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
754070.70%1.26%1.49%1.93%2.24%

Source: Ownwell

Property Tax Assessment Values Across Princeton, Collin County, Texas

When examining property taxes in Princeton, 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.

Assessment notices:

In Collin County, assessment notices are sent in April 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. For context, Princeton’s median home price is $263,032, and the median tax bill is $4,109, compared with the national median property tax bill of $2,400. Tax bills range from $1,489 at the 25th percentile to $7,378 at the 90th percentile, and ZIP code 75407 has the highest median home price at $263,032.

Property Tax Assessment Values Across Princeton, Collin County, Texas

Source: Ownwell

$199,403

$641,044

$1,082,685

Median Princeton Market Value

$263,032

Median Collin County Market Value

$466,000

Median Texas Market Value

$258,851

Median United States Market Value

$235,294

Property Tax Assessment Values Across Princeton, Collin County, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
75407$48,000$69,300$263,032$347,089$407,824

Source: Ownwell

Property Tax Bills Across Princeton, Collin County, Texas

Property tax bills in Princeton are based on the assessed value of a home and the local tax rates set by taxing authorities in Collin County. When a property’s assessed value rises, the tax bill can increase even if the homeowner has not made any changes to the home. For a home with a median value of $263,032, the bill can vary widely depending on location, exemptions, and the final assessment. The 25th percentile tax bill is $1,489, while the 75th percentile is $6,224 and the 90th percentile reaches $7,378. That spread shows how much property taxes can affect homeowners in Princeton.

Ownwell helps homeowners lower their property tax bills by reviewing assessments, identifying savings opportunities, and filing appeals when a home is overassessed. By challenging inaccurate valuations and helping homeowners pursue available exemptions, Ownwell can reduce the amount owed and improve long-term savings.

Property Tax Bills Across Princeton, Collin County, Texas

Source: Ownwell

$1,556

$8,552

$15,547

Median Princeton Tax Bill

$4,109

Median Collin County Tax Bill

$6,220

Median Texas Tax Bill

$3,441

Median United States Tax Bill

$2,400

Property Tax Bills Across Princeton, Collin County, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
75407$612$1,489$4,109$6,224$7,378

Source: Ownwell

Don't miss the deadline to protest!

Frequently Asked Property Tax Questions in Princeton, Texas

How are property taxes calculated in Princeton, Texas?
Property taxes in Princeton, Texas are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.
How do I appeal my property taxes in Princeton, Texas?
To appeal your property taxes in Princeton, Texas, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.
What property tax exemptions are available in Princeton, Texas?
Common property tax exemptions in Princeton, Texas include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.
When are property taxes due in Princeton, Texas?
Property tax deadlines in Princeton, Texas vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.
How can Ownwell help reduce my property taxes in Princeton, Texas?
Ownwell provides professional property tax appeal services in Princeton, Texas. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.