Taxes & Insurance in Richardson
Richardson's split-county geography is the single most important tax fact here: depending on the exact address, either Dallas County's or Collin County's rate structure -- and either Richardson ISD's or Plano ISD's levy -- applies. Neither county's precise combined Richardson-specific millage was independently confirmed this session.
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Learn moreTwo counties, two overlapping but not identical rate structures
For the roughly two-thirds of Richardson in Dallas County, the county's FY2026 (Tax Year 2025) county-only adopted rate is $0.2155 per $100 of assessed valuation ($0.208765 M&O plus $0.006735 I&S) (Dallas County, retrieved 2026-08-22), with combined-effective-rate estimates (all taxing entities) disagreeing across sources at roughly 1.58%-1.85%. For the northern third in Collin County, effective-rate estimates also disagreed across sources this session: 1.66%, 1.58%, and a broader 1.7%-2.3% combined range depending on the specific city/school district within the county (propertytaxrates.org/Ownwell/taxbystate aggregation, retrieved 2026-08-22). Both counties land in a broadly similar overall range, but no single precise Richardson-specific combined millage was independently confirmed for either county this session -- and because Richardson ISD and Plano ISD carry different levies, the same county-level effective rate can still produce a different total bill depending on which school district a specific address falls into. Verify directly with the Dallas Central Appraisal District or the Collin Central Appraisal District, as applicable.
No Texas state income tax
As with every Texas city in this dataset, Richardson residents pay no state income tax -- a statewide, not Richardson-specific, factor.
Homeowners insurance: a disclosed gap between statewide and city-level figures
The Texas Department of Insurance's official statewide average premium for 2024 filings was $3,291/year, with 2026 projections from other sources running $3,900-$4,529/year (TDI, retrieved 2026-08-22; see Garland's taxes-insurance topic for the full statewide context). Richardson-specific marketing-site quotes ran notably lower this session: roughly $1,530/year from one source, $1,642/year from another (which built in a 2% wind/hail deductible on an average $374,104 home value), and a low-end range of $907-$1,228/year from a third. As with Garland, these lower city-specific figures likely reflect promotional or minimum-coverage starting-rate quotes rather than a true citywide average; weight the TDI's statewide figure more heavily and treat the city-specific numbers as directional only.
The same DFW hail/wind risk profile as Garland -- not hurricane or coastal risk
Richardson sits within the same statewide hail corridor as the rest of DFW: Texas led the nation with 902 major hail events in 2025 and accounted for roughly 16.7% of all U.S. hail events from 2023-2025 (Insurance Information Institute/NOAA-derived aggregation), and shares the same documented DFW severe-storm history covered in the climate topic (the 1995 Mayfest hailstorm, the 2012 and 2019 tornado outbreaks). One Richardson-specific source noted that a large hail claim can mean $2,500-$5,000 out of pocket under a typical 2% wind/hail deductible, and that raising the deductible to $2,500-$5,000 can cut annual premiums by 15%-30% (TGS Insurance aggregation, retrieved 2026-08-22) -- a real, practical budgeting consideration for buyers here just as in Garland.
Key takeaways
- Richardson's split-county geography means either Dallas County ($0.2155/$100 county-only FY2026 rate; ~1.58%-1.85% combined-effective estimates) or Collin County (~1.58%-1.75%, up to 2.3% depending on city/ISD) rules apply, plus either Richardson ISD's or Plano ISD's levy -- confirm for a specific address; no single precise combined millage was independently confirmed for either county.
- No Texas state income tax applies.
- TDI's official statewide average homeowners premium is $3,291/year (2024 data, 2026 projections of $3,900-$4,529); Richardson-specific marketing quotes ran notably lower ($907-$1,642/year), a gap likely reflecting promotional starting rates rather than a true average.
- Richardson shares the same DFW-wide hail/tornado risk and insurance-cost pressure as Garland -- not hurricane or coastal-flood risk. A large hail claim can mean $2,500-$5,000 out of pocket under a typical 2% wind/hail deductible.
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