Which property tax rates apply to my Prosper address?

Kaitlin Lovern recommends starting with the property record for the exact Prosper address. A Prosper mailing address alone is not enough to establish every taxing unit. For a Collin County property, look at the town, county, college district and the school district shown on the account, then check for any special district. Prosper ISD and Frisco ISD do not have the same rate. A property in a municipal utility district may have an additional tax, while a public improvement district may impose an assessment that needs to be considered separately.

The Town of Prosper budget lists a town rate of $0.505 per $100 for 2026-27 (Town of Prosper, 2026, source). The Prosper ISD board recap gives $1.2011 (Prosper ISD, August 24, 2026, board recap). Community Impact reports $0.151414 for Collin County. Community Impact also reports a $0.08122 Collin College rate in its article on the college trustees’ tax rate decision.

Adding those four figures gives $1.938734 per $100 for the example address, before any special district. It is an estimate, not a rate for every Prosper home. Use the actual account and adopted rates for your address. Different exemptions mean that even the correct combined rate cannot simply be applied to one taxable value in every case.

Ask for any district notices and assessment information before committing to a purchase. The Texas Property Code PID notice rule, addresses seller notice (Texas Property Code, section 5.014, source). Check the specific property for any PID assessment or MUD tax. Our guide to buying a Prosper home with a MUD or PID explains what to ask about.

What could a $700,000 Prosper home pay?

To put the budget in perspective, consider a hypothetical Collin County home in Prosper ISD with a $700,000 appraised value and the rates above. This is arithmetic for an illustration, not a quote for a particular property. The calculation uses the town rate, school rate, and reported county rate and the Collin College rate reported by Community Impact.

For the second row, the school portion is calculated on $560,000, while the other listed units are calculated on the full $700,000. The Texas Comptroller’s exemption guidance, describes the school homestead exemption (Texas Comptroller, 2026, source). The example does not include local town, county or college exemptions, an over-65 exemption, a tax ceiling, or any MUD tax or PID assessment. The town, county and college offer local homestead exemptions; omitting applicable exemptions overstates a qualifying homesteader’s bill. The amounts of those local exemptions are not established here, so a full-exemption total cannot be calculated from this example. Ask Collin CAD for the amounts and your eligibility.

That distinction matters when you compare homes. The seller’s bill reflects the seller’s taxable values and exemptions. The seller’s appraisal cap does not carry over to a buyer. Ask to see market value alongside capped value on the appraisal record and budget using market value (Texas Tax Code, section 23.23, source). A projection should reflect your eligibility and the property’s taxing units. For the school-only example, $11,889.60 divided by 12 is about $991 per month before any applicable local exemptions or special districts. Bring that distinction to your lender when comparing monthly payments.

Homestead exemptions and the appraisal cap

For a qualifying Prosper homeowner, a residence homestead exemption reduces the value taxed by the unit offering it. The Comptroller, states that school districts provide a $140,000 residence homestead exemption and an additional $60,000 for a qualifying owner age 65 or older or disabled. Other units can have their own exemptions. Check each unit and the account rather than deducting the school amount from every line.

Apply with Collin Central Appraisal District for a Collin County homestead. According to Collin CAD’s homestead FAQs, filing is free and the usual filing period is January 1 through April 30, with late filing allowed up to two years after delinquency. A new application is needed when the homestead changes (Collin Central Appraisal District, 2026, source). A buyer who acquires a home after January 1 may qualify for a partial-year exemption only if the previous owner did not have the same exemption that year. Ask the district how the rule applies to your purchase.

The homestead appraisal cap is a separate protection from the exemption. According to Collin CAD guidance and Texas Tax Code section 23.23, beginning January 1 of the tax year after the first year you qualify, the appraised value cannot exceed the prior year’s value plus 10 percent plus new improvements (Collin Central Appraisal District, 2026, source). This is a limit on appraised value growth under the rules, not a guarantee that the tax bill itself can rise by no more than 10 percent. Rates, exemptions and improvements can affect the outcome.

What changes at age 65?

Eligible homeowners should ask Collin CAD about the additional exemption and the school tax ceiling. The ceiling requires an application; it is not automatic. A percentage of the ceiling can transfer to another Texas homestead. The school ceiling does not mean every component of the entire property tax bill is frozen. See the district’s homestead FAQs, and our guide to transferring an over-65 tax ceiling in Texas. The additional school exemption is $60,000 for a qualifying owner age 65 or older or disabled.

When do appraisal notices arrive, and how do I protest?

The Texas Comptroller’s property tax calendar, describes notice dates of April 1 for homesteads and May 1 for other property, or as soon as practicable (Texas Comptroller, 2026, source). Read the notice when it arrives: it contains the value and information you need to decide whether to challenge it. An appraisal notice is not the same document as the later tax bill.

Generally, a protest is due by May 15 or 30 days after the notice is delivered, whichever is later. If the deadline falls on a weekend or holiday, it moves to the next business day. The standard 2026 protest window has closed; the default 2027 date is Monday, May 17, subject to the later notice rule. Use the deadline on your notice and confirm any special circumstances with Collin CAD.

Review the property’s description and compare the proposed value with evidence relevant to your home. Keep supporting records organized, explain the issue clearly and follow the instructions for filing and any hearing. Collin CAD offers eFile using the PIN on the notice. Start with the appraisal notice rather than waiting for the tax bill: the general protest deadline is May 15 or 30 days after delivery, whichever is later.

When is the tax bill due?

According to the Texas Comptroller’s property tax calendar, bills are sent October 1 or soon after. The Collin County Tax Assessor FAQ provides payment guidance. Payment is generally due by January 31; if the bill was mailed by January 10, unpaid taxes become delinquent February 1 (Texas Comptroller, 2026, source). Confirm the amount, payment instructions and deadline on your own bill. If your mortgage payment includes tax escrow, ask your servicer how much it is collecting and verify that the tax payment is made.

How are property taxes handled at a Texas closing?

A buyer’s monthly budget needs the projected tax bill as well as the closing statement. Kaitlin Lovern can help buyers gather the property details for their lender. Under the standard TREC resale contract, taxes are prorated through the closing date, and the calculation may take exemption changes into account. The parties adjust when actual statements arrive. If current-year taxes are unpaid at closing, the buyer pays them. The Collin County Tax Assessor, also explains that the owner on January 1 is personally liable for that year’s tax and the lien follows the property.

In practical terms, ask the title company how the estimated tax proration was calculated, which exemptions were assumed and how a later adjustment will be handled. A credit on the settlement statement and the eventual tax bill are different things. Buyers should ask their lender to model the ongoing payment using their expected exemption status, not just copy the seller’s escrow payment. Sellers should keep the closing statement and ask where a later adjustment request should go.

If you are weighing a sale as well as a purchase, start with the Prosper home value guide. For nearby comparisons, see Plano property taxes and Frisco property taxes. For the $700,000 example above, the school-only estimate of $11,889.60 divided by 12 is about $991 per month before local exemptions and special districts.