Plano Property Tax Rates for 2026-27: What Buyers and Sellers Should Know

Anyone comparing homes in Plano, Texas will run into two property tax numbers first: the City of Plano rate and the Plano ISD rate. Amy Jacobs, REALTOR® with Berkshire Hathaway HomeServices PenFed Realty Texas, has been guiding relocating families since 2012, and these are the two numbers buyers usually ask about first. Both were set this fall, so the numbers below are current rather than proposed.

According to Community Impact, Plano City Council approved its fiscal year 2026-27 budget and an unchanged tax rate on Sept. 14. The rate is $0.4376 per $100 of valuation, the same as the year before. The approved general fund budget is $435.52 million, and Community Impact reports the added money goes mainly to the police department, the fire department's new shift schedule and the city's whole blood program. City documents put the median homestead taxable value at an estimated $464,574.

During the budget discussion, which Community Impact covered in an earlier report, the city's budget director tied the flat rate to the market, saying average tax values and market share have started going down. The city manager said debt pressures are likely to affect the rate in future years. That is a forecast, not a decision, and it is worth knowing if you plan to own in Plano for a long time.

According to Community Impact, Plano ISD trustees approved a 2026-27 rate of $1.03275 per $100 of taxable value on Sept. 8, down from $1.03955. The district's chief financial officer attributed the drop mainly to state-mandated rate compression, and the new rate is the maximum allowed without triggering an election.

Murphy Monitor reported in July that the proposed rate, the same figure trustees later approved, is made up of $0.79540 for maintenance and operations and $0.23735 for debt service on voter-approved bonds. Community Impact notes that even with the lower rate, the average Plano homeowner is expected to pay more because property values rose.

A tax bill is the rate multiplied by the taxable value of the home, so a rate can fall while a bill rises. Plano ISD's chief financial officer told Community Impact that is the case for the average homeowner this year. For a specific home, the number that matters is that home's taxable value after any exemptions, not the average.

The city and the school district are also only two of the taxing units on a Plano address. Other taxing units, such as the county, may apply their own rates, and which ones apply depends on the exact address. The Texas Comptroller states there is no state property tax and that local taxing units set the rates, so a single city-wide number never tells the whole story.

Ask your agent to pull the current tax statement for the exact address, and read the list of taxing units on it. Confirm the taxable value, and ask which exemptions are currently applied.

If you buy a home you will live in, apply for the homestead exemption. The Comptroller says applications go to the appraisal district in the county where the property sits and that the general filing deadline is before May 1. Timing can differ for buyers who close during the year, so ask your agent and the appraisal district how it applies to your closing date.