By R.J. Morales | TX3DNews.com
It’s appraisal season again across Collin County, and many homeowners are bracing for sharp increases in their property values. But for residents over 65, the story is more nuanced — and often less alarming — than the headlines suggest.
Thanks to a series of state and local exemptions, most seniors in Plano, McKinney, and Allen who filed the right paperwork are shielded from the biggest increases. However, protections vary by city, and residents nearing age 65 — or who haven’t filed — may still feel the squeeze.
Here’s a breakdown of how the system actually works and what it looks like five years after a homeowner turns 65.
What Happens When You Turn 65 in TX-03
Across Collin County, residents who turn 65 are eligible for several property tax benefits:
- $100,000 exemption on school district property taxes.
- A freeze on school taxes, locking in the amount owed at age 65.
- A Collin County tax freeze (adopted in 2004).
- A Collin College exemption of $100,000 (no freeze).
- City-specific exemptions and, in some cases, freezes.
These benefits are not automatic. Homeowners must apply through the Collin Central Appraisal District. Once granted, they stay in place as long as the homeowner owns and lives in the property.
Case Study: A 70-Year-Old Homeowner in 2025
To illustrate how these exemptions play out, TX3DNews compared what a 70-year-old homeowner in each city would pay in 2025 vs. 2020. In each case, the homeowner:
- Turned 65 in 2020
- Owned an average-value home
- Applied for and received all available exemptions and freezes
Plano
- 2020 home value: $433,482
- 2025 home value: $521,260
- Tax change (2020 to 2025):
+$102.70 total increase over 5 years- School, city, and county taxes frozen
- Only Collin College taxes increased slightly
McKinney
- 2020 home value: $433,482
- 2025 home value: $514,209
- Tax change (2020 to 2025):
+$435.50 total increase- School and county taxes frozen
- City and Collin College taxes increased
Allen
- 2020 home value: $433,482
- 2025 home value: $516,028
- Tax change (2020 to 2025):
+$413.28 total increase- School and county taxes frozen
- City and Collin College taxes increased
What It Means
For seniors who have applied for exemptions, the data shows remarkable stability in property tax bills — even with home values increasing by nearly 20% since 2020. Most of that stability comes from tax freezes on school and county taxes, which make up the largest portions of the bill.
However, not all taxing entities offer freezes. City taxes in McKinney and Allen can still increase year to year, even for seniors, though exemptions reduce the taxable value. Collin College, while offering a large exemption, does not freeze its rate — so that portion may also grow.
And for homeowners who are approaching age 65, or who moved into a higher-valued home recently, tax bills can still be high. The benefits begin only after qualification, so timing matters.
Takeaway
While rising home values have added pressure for many homeowners, the data shows that seniors in cities like Plano, McKinney, and Allen who qualified for and claimed their available exemptions have largely seen their property tax bills remain stable. In several cases, 70-year-old residents are paying nearly the same in 2025 as they did in 2020 — a result of long-standing freezes on school and county taxes, and city-level relief in some areas.
For those nearing retirement or new to the area, understanding these exemptions is essential. And for everyone else, it’s a reminder that tax policy in Texas is more complicated — and more protective — than it may seem at first glance.