Collin County property values once again show an increase, according to figures released by Collin Central Appraisal District (CCAD).
The CCAD mailed the 2023 real property appraisal notices to property owners on April 15. Business personal property mailings were scheduled for mid-May.
According to Brian Swanson, deputy chief appraiser-business operations and compliance, the increases stemmed from basic supply and demand.
“The number of people moving to Collin County in the last few years has done nothing but increase (demand) and has caused a shortage of property that is available to be purchased (supply),” he said. “As the supply has decreased, the demand has increased, and the home prices have followed suit.
Swanson added that certified values will be sent to taxing entities by the statutory date of July 25. “At that time the entity will look at their values for their individual budgeting process and calculate their tax levy,” he said.
Collin County property values increased by 9.25% to $213 billion with $7.8 billion in new property added to the tax roll.
CCAD reported the average cost of a Collin County home in 2023 was $580,900, compared to $510,605 in 2022.
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