Texas property taxes are the third highest in the nation [1]. About 1.81% of the property value annually, or $5,430 in this case with a home value of $300,000. That's about $450/mo., which seems reasonable for low end rent in some parts of Texas. Property taxes vary by county, so Denton may have a higher or lower property tax than the average in Texas.

[1]: http://dallasdirt.dmagazine.com/2010/10/05/texas-property-ta...