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Certified taxable property values increase 13.9%

by | Aug 9, 2023 | Latest, news

New construction added $16.8M to Wylie’s property values which were assessed at $7.4 billion this year. File Art

The average market value for a home in Wylie increased by $46,444, according to figures released by the Collin Central Appraisal District (CCAD). 

Certified value summaries were released July 25 to taxing entities and the public and the city’s taxable property values grew 13.93%. 

Taxing entities, including the city and school district, will use the certified values to help calculate revenue from property taxes and adopt the tax rate when they approve the budget for the next fiscal year.

Property values in Wylie were assessed this year at $7.4 billion, compared to $6.5 billion in 2022. Of the increase, new construction added $168.5 million. 

The average market value of a home in Wylie is $430,838, compared to $384,394 last year.

Market values for homes in Wylie ISD, much like the city of Wylie, also saw a significant increase — jumping to $463,664 from $414,094 reported last year. Wylie ISD’s total taxable value was $9.9 billion, up 4.51% from last year’s $9.46 billion with $356 million coming from new construction added to the tax rolls. 

Additionally, Collin County values were appraised at $223.8 billion, a 15.09% increase from the 2022 total, $194.5 billion. The county added $7.6 billion in new construction. Home values in Collin County averaged $584,050, up from $513,136.

Collin College’s assessed values were slightly lower than the county’s at $199.9 billion, a 0.40% increase from $199.1 billion last year. New construction was valued at $7.3 billion while average home values were the same as the county averages.

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