Melissa, Texas Property Taxes
Real Estate Values and Property Tax Valuation in Melissa, Texas
The city of Melissa, Texas has 6,756 properties with a cumulative value of $2.6B, representing 1.70% of all real estate value in Collin County. Property taxes in Melissa totaled $34.5M, with an average homeowner paying $5,476 in property taxes compared to the county average of $6,646. The average property tax rate in Melissa is 1.34%, lower than the county average of 1.39%. Properties are valued for tax purposes based on their estimated market value.
The property tax timeline in Texas begins on January 1st, when the property valuation date is set. Property value notices are issued between April and May, and the property tax appeal deadline is May 15th or 30 days after the notices are issued. The real property tax bill is due on January 31st for the preceding year's gross tax bills.
Updated November 01, 2023
| Important Links | |
|---|---|
| Collin Clerk | (972) 548-4134 |
| TexasFile Clerk Records | - |
| Important Dates | |
|---|---|
| Real Property Tax Bill Due (1st of #): | January 31st, Gross tax bills for preceding year |
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | April - May |
| Property Tax Appeal Deadline: | May 15th or 30 days after notices are issued |
| Property Tax Bills Issued: | October 1st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Melissa, Texas
Residential Property Tax by ZIP code in Melissa, Texas
Property taxes in Melissa are slightly lower than the average for Collin County, with an average rate of 1.34% compared to 1.39%. This difference is likely due to the fact that Melissa is a smaller city than many of the other cities in the county. However, property tax rates do vary across Melissa ZIP codes, with the highest effective rate being 1.34% in the 75454 ZIP code and the lowest rate being in an unspecified ZIP code. This variation is likely due to differences in home values across the different ZIP codes. For example, the 75454 ZIP code may have higher home values than other ZIP codes, resulting in a higher effective property tax rate. On the other hand, the unspecified ZIP code may have lower home values, resulting in a lower effective property tax rate.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each ZIP code in Melissa, Texas. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75454 | $135,138 | $311,354 | $386,000 | $455,708 | $533,037 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each ZIP code in Melissa, Texas.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75454 | $1,076 | $3,327 | $5,857 | $7,214 | $8,559 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75454 | 0.80% | 1.07% | 1.52% | 1.58% | 1.61% |
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Real Estate Values in Melissa, Texas
Average Home Value in Melissa, Texas
Last updated: November 2023
We currently do not have this data but we are working to add this soon.
We currently do not have this data but we are working to add this soon.
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Housing Expenses in Melissa, Texas
Housing expenses are a major part of the average household budget in the state. In fact, housing expenses account for nearly one-third of total expenses for the average household. As inflation continues, housing expenses continue to rise, eating up an ever-increasing portion of the household budget. Property taxes are the second largest component of housing expenses for the average property owner in the state, making up a significant portion of the total housing expenses. As housing expenses continue to rise, it is important for households to budget carefully and plan for the future to ensure they can afford their housing expenses.
Monthly Consumer Expenses for South region
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