By Chad Engbrock
Appraisals are out and there’s good news and bad news depending if you are on the giving or receiving end.
According to information released by the Collin Central Appraisal District last week, the city of Murphy’s 2015 certified estimate of taxable value as of April 30 is up 8.04 percent compared to last year.
Murphy’s 2014 certified taxable value as of Feb. 4, 2015 was $1,798,447,145. As of April 30, 2015, the estimated taxable value increased to $1,943,000,000, an increase of $144,552,855.
The average home value moved upwards from $284,931 as of last year to $314,972, an increase of 10.54 percent. In 2013 the average value of a home in the city of Murphy was $266,595.
Linda Truitt, the city’s finance director, attributed the growth primarily to higher appraisals.
“We did have some new construction which adds to the valuation,” said Truitt, “but the main reason for the change is an increase in appraisals on existing homes. With the new, larger employers coming to the area and a limited inventory of homes on the market, demand is driving up home values.”
For Wylie Independent School District, the change in values was even higher.
The 2014 certified taxable value as of Feb. 4, 2015 for Wylie ISD was $3,893,832,909. The 2015 certified estimate of taxable value for the district is $4,305,000,000, an increase of $411,167,091, and a 10.56 percent increase. Like the city, the average home value in the district increased as well, from $187,835 to $210,436, a 12.03 percent increase. The average home value in the district in 2013 was $173,762.
In Plano ISD, the 2014 certified taxable value was $38,801,175,883. The 2015 certified estimate of taxable value for PISD is 41,945,000,000, an increase of 3,143,824,117 or 8.10 percent. The average home value for the 2015 estimate is $301,364 compared to $276,847 in 2014.
The city of Parker’s 2014 certified taxable value was $614,998,395. The 2015 estimate increased by $60,001,605 to $675,000,000, a 9.76 percent increase. A home in Parker was valued at $474,272 in 2014 and in 2015 the estimated value increased to $504,477.
For Collin County the 2014 certified taxable value increased from 86,648,730,277 to $96,000,000,000 for the 2015 certified estimate taxable value. This represents an increase of 10.79 percent. Home values in the college district changed from $257,767 last year to $287,078 as of April 30, 2015, an increase of 11.37 percent.
Notices of Appraised Value on real property for Collin County were mailed on April 30. The protest deadline is May 31, 2015, or 30 days after the Notice of Appraised Value date, whichever is later.
A copy of the Property Appraisal – Notice of Protest for the current tax year was included in appraisal notices and may be downloaded at www.collincad.org. Select ‘Forms’ on the right hand side of the ‘Home’ page. As you scroll down the page select ‘Notice of Protest Form’.
To contact the CCAD, call 469-742-9200 or (toll free) 866-467-1110.