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Collin County Appraised Property Values Down Less Than Expected 

05:48 PM CDT on Tuesday, July 27, 2010
By ED HOUSEWRIGHT / The Dallas Morning  

Collin County property values dropped in the past year, but not as sharply as had been predicted,
according to the county’s certified tax roll released Tuesday.
Countywide, taxable values fell 1.5 percent to $71.2 billion. In May, the Collin Central
Appraisal District had predicted values would fall 4.4 percent.
“We’re absolutely delighted,” County Judge Keith Self said. “This will make our job easier.”
Cities, school districts and the county use the certified tax roll to gauge how much property tax
revenue they will have for the fiscal year beginning Oct. 1.
Higher appraisals mean the taxing entities have more money to spend. Lower taxable values
cause officials to consider budget cuts or tax increases.
Most Collin County towns and school districts saw property values decline in the past year,
according to the final tax roll.
For instance, Plano’s taxable values dropped 3.3 percent, Frisco’s 2.3 percent and
McKinney’s .2 percent. Allen’s values, meanwhile, rose .9 percent.
Frisco, which has experienced rapid growth in the past decade, is accustomed to steady appraisal
increases, not decreases.
“We’re still focused on providing excellent city services,” Frisco Mayor Maher Maso said.
“We’re not reducing services.”
He said he was pleased that Frisco’s tax roll fell less than the 4.2 percent decline predicted in
May.
“We’re approaching it as good news,” Maso said. “We understand people are still facing a lot of
challenges. That’s why we’re being very conservative.”
McKinney school officials had prepared for a 2 percent drop in taxable values, while the final
roll shows a .5 percent drop, said Steve Fortenberry, the district’s chief financial officer.
“There will be very little impact on the operating fund budget since state aid will float up or
down to offset any gains or losses in local property tax collections,” he said.
School officials in Frisco and Plano have discussed budget cuts because of the declining property
values.
The Plano district expects to raise the property tax rate 2.5 cents to $1.35 per $100 valuation. The
increase will help pay down more than $1 billion in debt incurred from bond sales.
In the Frisco school district, board members have discussed raising the tax rate 3 cents to $1.42
per $100 valuation. The tax revenue increase also would help pay off bond debt, not cover daily
operations.
While most Collin County towns and school districts saw tax roll declines, a handful saw
increases.
The largest property value jumps were in Prosper (8.8 percent), Fairview (7.4 percent) and
Lavon (5.6 percent).
The towns with the sharpest drops in appraisals were Josephine (4.9 percent), Blue Ridge (4.3
percent) and Farmersville (3.8 percent).
The appraisal district also released average home values throughout Collin County.
The highest average value was $409,183 in Parker, while the lowest was $66,350 in Blue Ridge.
Among the four largest towns, Frisco had the highest average home value at $262,195,
followed by Allen ($218,527), McKinney ($207,412) and Plano ($196,643). 

Staff writers Matthew Haag and Sam Hodges contributed to this report. 

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Real Estate Tips
About Appraisals >Refinancing Your Home

Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.

You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges. The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two more, it might not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your real estate agent can help you work out the numbers and can refer you to reputable home appraisers and mortgage lenders.

See All Tips In The "About Appraisals" Category >
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Real Estate Trivia
Q 
What is considered one of the slimmest buildings ever designed?

A 
The Carnegie Hall Tower, designed by Cesar Pelli, is only 50 feet wide and 60 stories high.
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Rene Burchell, REALTOR®, real estate agent and broker for Dallas, Frisco and Plano, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Rene Burchell
Keller Williams Realty Plano

3600 Preston Rd. #100
Plano, TX 75093
Direct: 469-877-3303
Office Phone: 972-665-2803
Voicemail: 972-665-2882
Office Fax: 888-341-8050
Rene@ReneBurchell.com

Satisfied clients are the key to my success! My satisfied clients are my best resource for new business. In this very competitive business of real estate, service makes the difference. My service is second to none and has earned me a valuable source of referrals. I will listen to your needs and want to establish our goals and objectives. We work as a team to meet our goals and you will continually be in the loop during the entire process. In this fast paced market, I believe communication is key! If you are considering a real estate professional, please give me an opportunity to earn your business. I am confident you will be very happy! Bookmark and Share

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