75418 Property Tax Rate

Property owners in ZIP code 75418 (Bonham, Texas) pay a median of $2,161/year in property taxes on homes valued at $207,600. This translates to an effective tax rate of 1.04%, which is 23% below the Texas state average of 1.35%.

The monthly property tax burden for a median-valued home in 75418 is approximately $180, which factors into escrow payments on mortgages. This ZIP code is located within Fannin County. This is $970 less than the Texas average of $3,131/year.

Compared to similar ZIP codes in Texas, 75418 has higher property taxes. ZIP codes with similar effective rates include 75758 (1.04%) and 76890 (1.04%).

In Bonham, property taxes represent approximately 3.5% of the median household income of $61,265, providing context for the relative tax burden on homeowners in this area.

Texas law caps annual appraised value increases at 10% for homestead properties, but this protection only applies once you file a Homestead Exemption — submit your application to the Fannin County Appraisal District by April 30 of the year following your purchase to lock in this rate. The exemption also removes a portion of your home's value from school taxes, typically saving $400–$800 annually depending on local school district rates. Request a Notice of Appraised Value from the Fannin County Appraisal District after closing and file a protest by May 15 if the assessed value exceeds the market price you paid.