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Certified property values increase 15.5 percent

by | Aug 6, 2015 | Latest

By Joe Reavis

Staff Writer

[email protected]

Certified taxable property values in the city of Sachse increased 15.51 percent over the past year to a total of $1.646 billion, in figures released last week by central appraisal districts in Collin and Dallas counties show.

A year ago, taxable property values in Sachse were pegged at $1.425 billion. Taxable values include deductions for homestead and other exemptions.

Because Sachse city boundaries overlap two counties, the values from two appraisal districts must be considered in getting the overall tally.

However, Sachse residents pay property taxes in only one school district, Garland Independent School District, whose values are calculated by Dallas CAD. Taxable values in Garland ISD are certified this year at $14.9 billion, up 7.27 percent from a year ago.

Collin and Dallas CAD released property value estimates in spring, then conducted protest hearings before issuing certified rolls in time for entities to start finalizing budget work. The certified values are used to set property tax rates.

Entities will receive three property tax rates from the county tax assessor, to be used in determining how much money needs to be raised to fund operations in a new fiscal year. The actual rate is the levy from the previous year, the effective rate represents the levy required to raise the same amount as was generated in the prior year and the rollback rate is the levy representing an eight percent tax increase that could trigger a tax rollback election.

Sachse assessed property taxes at a rate of 77.0819 cents per $100 assessed valuation last year, a rate that has remained unchanged for three years. Garland ISD assessed property taxes at a rate of $1.2533 per $100 valuation last year.

In addition to city and school district taxes, Sachse property owners also must pay levies to Collin County and Collin College, or Dallas County, Dallas County Community College and Parkland Hospital.

Collin County saw property tax values increase 11.04 percent since 2014, to $96.4 billion, with $2.76 billion coming from new construction. The average price of a house in the county is $285,292.

The county assessed property taxes at a rate of 23.5 cents per $100 assessed valuation last year.

Taxable values within Collin College boundaries climbed 11.3 percent to $99.37 billion, with $2.8 billion attributed to new construction. Average price of a house in the college district is $285,292.

Collin College assessed property taxes at a rate of 8.196 cents per $100 valuation last year. The levy has decreased slightly each of the last three years because of rising property values.

Dallas County taxable values this year are $188.2 billion, an increase over the past year of 7.49 percent. Taxable value this year for Dallas CCC is $197.28 billion, up 7.91 percent, and for Parkland is $188.98 billion, up 7.83 percent.

Combined tax rate for the three Dallas entities was 66.3875 cents per $100 assessed valuation last year, up slightly from 2013.

Overall tax rates for Sachse residents are $2.34845 for residents in Collin County and $2.695365 for those on the Dallas County side of town.

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