75489 Property Tax Rate

Property owners in ZIP code 75489 (Tom Bean, Texas) pay a median of $3,237/year in property taxes on homes valued at $228,400. This translates to an effective tax rate of 1.42%, which is 5% above the Texas state average of 1.35%.

The monthly property tax burden for a median-valued home in 75489 is approximately $270, which factors into escrow payments on mortgages. This ZIP code is located within Grayson County.

Compared to similar ZIP codes in Texas, 75489 has higher property taxes. ZIP codes with similar effective rates include 76936 (1.42%) and 77590 (1.42%).

In Tom Bean, property taxes represent approximately 3.8% of the median household income of $85,347, providing context for the relative tax burden on homeowners in this area.

Texas imposes no state income tax, and your homestead property's appraised value is capped at a 10% annual increase — this cap applies only after you file a Homestead Exemption with the Grayson Central Appraisal District. The exemption amount varies by taxing entity (school district, county, city), but typically reduces assessed value by $25,000–$40,000, saving most homeowners $400–$800/year. File your Homestead Exemption application with the Grayson Central Appraisal District by April 30 of the year following your purchase to lock in the 10% cap for future years.