Web Analytics
top of page

Understanding Property Taxes in Mustang Lakes: What Homebuyers Need to Know


When you're in the market for a new home, it's essential to consider all the costs involved, including property taxes. In the beautiful community of Mustang Lakes, understanding property taxes is a crucial part of the home buying process. In this blog post, we'll break down everything you need to know about property taxes in Mustang Lakes, ensuring you make an informed decision when purchasing your dream home.

The Basics of Property Taxes

Property taxes are a significant source of revenue for local governments, including school districts, municipalities, and counties. These taxes are levied based on the assessed value of your property and are used to fund essential services such as schools, public safety, road maintenance, and more.

How Property Taxes are Calculated

In Mustang Lakes, property taxes are calculated based on the assessed value of your home and the tax rates set by local taxing authorities. Here's a simplified overview of how property taxes are calculated:

  1. Assessed Value: The county's appraisal district determines the assessed value of your property. This value is an estimate of your home's market value and may change over time due to factors like renovations, market conditions, or new constructions.

  2. Tax Rates: Local taxing authorities, such as the school district and the county, set tax rates. These rates are applied to the assessed value of your property to determine the amount of property tax you owe.

  3. Exemptions: Some homeowners may qualify for property tax exemptions, which can reduce the taxable value of their property. Common exemptions include the homestead exemption for primary residences and exemptions for seniors or disabled individuals.

Understanding the Taxing Authorities

In Mustang Lakes, property taxes are typically divided among several taxing authorities. The main ones include:

  1. School District: A significant portion of your property taxes goes to the school district serving the area. In Mustang Lakes, the Prosper Independent School District (PISD) is the primary school district.

  2. Collin County: A portion of your property taxes also goes to Collin County, which provides various services and infrastructure.

  3. City of Celina: If you live within the city limits of Celina, a portion of your property taxes goes to fund city services and projects.

Property Tax Payment Schedule

Property taxes in Mustang Lakes are usually due annually. The tax year runs from January 1st to December 31st, and property tax bills are typically sent out in October. Homeowners have until January 31st of the following year to pay their property taxes. It's crucial to stay informed about the due dates and payment options to avoid penalties or interest charges.

Budgeting for Property Taxes

When budgeting for your new home in Mustang Lakes, consider property taxes as part of your ongoing expenses. Your real estate agent or the seller can provide you with information on the current property tax rates and the assessed value of the home you're interested in. This will help you estimate your annual property tax obligation.


Understanding property taxes is a vital aspect of the home buying process in Mustang Lakes. By knowing how property taxes are calculated, who the taxing authorities are, and the payment schedule, you can make an informed decision about your new home. Remember to factor property taxes into your budget to ensure a smooth and financially responsible homeownership experience in this beautiful community.


Call us at 469-269-6541 for more information about Celina real estate!

About us: Celina New Construction Expert Real Estate Agent

As a Top Real Estate Professional in Celina, I understand the challenges that arise when buying a new construction home. There are over 100 builders in the DFW area. I work with most of the new home builders in Celina and understand how various builders operate. I am familiar with the options they offer, current incentives and I frequently visit the upcoming communities they are building. I guide my clients through all steps of the new home construction process and aggressively protect their interests in the transaction.

As a holder of top real estate industry certifications and designations like CRS, ABR & GRI, I can offer my clients experience as a Buyer's Agent and REALTOR®, top Industry Customer Service, in-depth, up-to-the-minute and comprehensive market knowledge; honesty, integrity, dedication, and professionalism in my business.

Whether you are a first time buyer in Celina looking to buy a home in Fields or whether you are relocating to Celina from California or moving your entire family from areas like San Francisco, Fremont, Palo Alto, Los Angeles, San Diego in California due to job transfer with your company, I can help you find a new construction home in Fields in Celina. Our relocation team eases the transition - whether you are moving across town or across the globe. We will work with you to find an area that best suits your professional, family and lifestyle needs. We have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, we can make this process as comfortable as possible no matter where you are located.

What is most important to you in your new construction home in Fields in Celina? Send us an email at info@NitinGuptaDFW.com or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about Fields community that you can use to help make your home buying decision.



bottom of page