Facts and Information

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Property taxes are local taxes; however, state law determines the process. Taxes fund multiple entities that set tax rates and collect taxes. The entities include but are not limited to counties, cities, schools, hospital districts, and community college districts. A few of the basic services funded by property taxes include: public schools, city streets, police, and fire protection.

For more property tax information, visit the State Comptroller's web site at http://www.window.state.tx.us/taxinfo/proptax/.

 Proterty Tax Image
Valuing the taxable property: (January 1 – April 15)

The central appraisal districts determine property’s function, market value and owner as of January 1. This determines whether the property is taxed, the taxable value, and who will be responsible for paying the tax. The appraisal districts also process applications for tax exemptions and agricultural appraisals during this time. There are two appraisal districts serving City of Richardson taxpayers: the Dallas Central Appraisal District for Dallas County and the Collin Central Appraisal District for Collin County.

Protesting property values: (April 15 – July 20)

In mid May of each year, the appraisal review board conducts hearings for property owners who believe their property values are incorrect, or who did not receive exemptions or agricultural appraisal. A homeowner must file a written protest not later than May 15 or 30 days after the date of the Notice of Appraised Value, whichever is later. Once the board has completed its work, each taxing entity receives a list of taxable property.

Adopting the tax rates: (July 25 – October 1)

The local taxing offices determine how much money will be spent in the coming year. In August or September, elected officials from each taxing office adopt tax rates to cover operations and debt payments.

Collecting taxes: (October 1 – January 31)

Statements for property taxes are typically mailed in October, and taxpayers have until January 31 to pay. Beginning February 1, penalty and interest charges accrue, with additional penalty and interest added each month until payment is received. This is the delinquent tax collection phase, and continues until the taxes are paid.