The City of Plano has one of the most advantageous property tax rates in the state of Texas. Municipal property tax rates have remained unchanged since 1990, except for the current tax rate of .4535 per $100 per taxable value, which is actually lower than the rate projected in the city’s five-year plan in FY 1998-99. For a home appraised at $180,000, the combined taxable value would be $4,365 before applicable exemptions.

The city’s taxing entities offer several property tax exemptions, which lower the taxable value on the principal residence. In addition to the homestead exemptions, a disabled veterans exemption is also available for eligible veterans. The disabled veterans exemption is based on state regulations and is available through all taxing entities in the City of Plano.

Plano’s low tax rate enables businesses to spend less money on taxes and keep more for the bottom line. The employees of Plano companies benefit because the low tax rate allows them to afford high-quality housing in a desirable area, where resale values have consistently remained high.

In addition to Plano’s stable and equitable tax rate, the State of Texas has no personal or corporate income tax and no state property or unitary tax, which saves businesses and their employees hundreds of thousands to millions of dollars annually. Texas ranks as one of the lowest in levying business taxes among the 15 most populous states.