Property values in Murphy increased 3.15 percent from last year to a new high of $2.58 billion including new property added to tax rolls, but the rise is not as much as in the past few years, preliminary estimates released last week by Collin Central Appraisal District show.
The CCAD estimates are used by taxing entities, such as cities and school districts, to prepare budgets for the next fiscal year, estimating tax rates to fund operations. Certified, or final, property values will be available July 25, after which entities will finalize property tax rates and budgets.
Murphy property owners pay taxes to the city, Wylie Independent School District or Plano Independent School District, Collin County and Collin College.
“In general, existing properties have cooled down,” Chief Appraiser Bo Daffin said. “New construction, though, has remained very strong.”
By Joe Reavis • [email protected]