The property tax rate in Princeton, TX runs close to $2.00 per $100 of taxable value once you add up all four taxing jurisdictions on the bill. The City of Princeton’s adopted rate is $0.440226 per $100,1Princeton, TX. Tax Rate Ordinance Collin County adds $0.149343,2Collin County. FY 2025 Proposed Tax Rate and Collin College adds $0.081220.3Collin College. Notice of Public Hearing on Tax Increase Those three together come to roughly $0.67 per $100. The Princeton Independent School District levies the largest single piece, which pushes the combined rate near $2.00. One consolidated bill arrives from the Collin County Tax Assessor-Collector covering all four.4Collin County. Collin County Tax Assessor – Collector
What Each Jurisdiction Charges
Four taxing entities set rates that appear on a Princeton bill: the City of Princeton, Princeton ISD, Collin County, and Collin College. Each board or council adopts its own rate every fall, so the combined total can rise even when one entity holds steady.
- City of Princeton: $0.440226 per $100
- Collin County: $0.149343 per $100
- Collin College: $0.081220 per $100
- Princeton ISD: the largest share, typically more than half the combined bill
Texas school district rates have two components: a maintenance-and-operations (M&O) rate and a debt-service (I&S) rate. The state has compressed M&O rates in recent years through legislative action. For the exact PISD rate in the current tax year, check the Collin Central Appraisal District’s published rate table at collincad.org or look at the breakdown printed on your annual statement.
Calculating Your Bill
Take your taxable value, divide it by 100, and multiply by the rate. A home with a taxable value of $350,000 at a combined rate of $2.00 per $100 produces an annual bill of $7,000. Each jurisdiction’s piece is calculated the same way with its own rate, and the amounts are rolled into one bill.
Taxable value is not the same as market value. Market value is what the appraisal district says the home would sell for; taxable value is what remains after exemptions and the homestead cap apply. The gap between those two numbers is where most of your savings live.
Exemptions That Lower What You Owe
Exemptions reduce taxable value before any rate is applied, so filing the right ones is the most direct way to cut a Princeton tax bill. Applications go through the Collin Central Appraisal District, and the filing deadline is April 30.5Collin Central Appraisal District. When Should I File an Application for a Homestead Exemption
General Residence Homestead
If the property is your primary residence, Texas law requires every school district to exempt $140,000 of your appraised value from school taxes.6State of Texas. Texas Tax Code Section 11.13 – Residence Homestead On a $400,000 home, PISD taxes are calculated on $260,000 rather than $400,000. The county, city, and college district may adopt their own optional homestead exemptions on top of that.
Over-65 and Disability
Homeowners who are 65 or older, or who have a qualifying disability, get an additional $60,000 school district exemption on top of the standard $140,000. The bigger benefit is the tax ceiling: the first year you qualify, your school tax is frozen at that dollar amount and will not rise even if your value does. Other taxing units may add their own exemption of at least $3,000 for these groups, and some offer a similar freeze. You can take either the over-65 or the disability exemption from a given taxing unit, but not both from the same one.
Disabled Veterans
Veterans with service-connected disabilities have two tracks. The partial exemption under Section 11.22 scales with rating: $5,000 off at 10–29 percent, $7,500 at 30–49 percent, $10,000 at 50–69 percent, and $12,000 at 70 percent or higher. Veterans who are 65 or older with at least a 10-percent rating, or who are blind or have lost the use of a limb, also qualify at the $12,000 level.7State of Texas. Texas Tax Code Section 11.22 – Disabled Veterans The second track is far larger: veterans rated 100-percent disabled or determined individually unemployable by the VA receive a complete exemption on the total appraised value of their residence homestead, meaning zero property tax on the home.8Texas Comptroller of Public Accounts. 100 Percent Disabled Veteran and Surviving Spouse Frequently Asked Questions Unremarried surviving spouses may continue either exemption after the veteran’s death, as long as they stay in the same homestead.
The 10-Percent Appraisal Cap
Once a homestead exemption has been in place for at least two consecutive years, the appraisal district cannot raise your appraised value by more than 10 percent per year, plus the value of any new improvements, regardless of how much the market jumps.9State of Texas. Texas Tax Code TAX 23.23 In a fast-growing area like Princeton, that cap matters. The appraised value will keep climbing by up to 10 percent each year until it catches up to market, but the single-year spike is capped.
Appraised values are set as of January 1 each year by the Collin Central Appraisal District.10Collin Central Appraisal District. Collin Central Appraisal District A notice of appraised value typically arrives around April 15, showing both market value and the taxable value after exemptions and caps.
Payment Deadlines and Late Penalties
Bills are mailed in the fall and are due upon receipt. Pay by January 31. Anything unpaid on February 1 is delinquent.11Texas Comptroller of Public Accounts. Paying Your Taxes If the bill was mailed after January 10, the delinquency date is pushed out so you have at least 21 days.
Penalties escalate fast. A 6-percent penalty applies on February 1 and grows by 1 percent each month through June. On July 1 the total penalty jumps to a flat 12 percent of the unpaid tax, no matter how many months have passed. Interest also runs at 1 percent per month for as long as the taxes remain unpaid.12State of Texas. Texas Tax Code Section 33.01 – Penalties and Interest By midsummer, a homeowner who hasn’t paid could owe roughly 18 percent more than the original bill. Taxing units can eventually place a lien and force a sale.
If you qualify for the over-65, disability, or disabled-veteran homestead exemption, you can split the taxes into four equal quarterly installments with no interest or penalty, as long as each installment is paid on time.13State of Texas. Texas Tax Code TAX 31.031 – Installment Payments of Certain Homestead Taxes Request the plan from the Collin County Tax Assessor-Collector before the first payment goes delinquent.
Protesting Your Appraisal
If the notice of appraised value looks too high, protest it. File a written notice of protest with the Collin County Appraisal Review Board by May 15, or 30 days after your appraisal notice was delivered, whichever is later.14State of Texas. Texas Tax Code Section 41.44 – Notice of Protest Miss the deadline and you can still get a hearing with a showing of good cause, but don’t rely on it.
The appraisal district usually offers an informal meeting first, where a staff appraiser reviews your evidence and tries to settle.15Texas Comptroller of Public Accounts. Appraisal Protests and Appeals Bring comparable sales, photos of damage or deferred maintenance, and your own research on neighborhood values. Many cases resolve there. If not, the matter goes to a formal ARB hearing with a binding decision. You can appeal that to district court or binding arbitration, though most homeowners stop before then.
Confirming the Current Year’s Numbers
Rates change every year, and in a high-growth city they can shift meaningfully. The Collin Central Appraisal District publishes current rates for every taxing entity at collincad.org. The City of Princeton posts its adopted rate and budget documents at princetontx.gov. Exemption applications and protest forms are available on the Collin CAD website, with online filing options. Two dates belong on your calendar: April 30 for exemption applications and May 15 for appraisal protests.