Prosper leads in highest increase in certified property values for 2008

Prosper, the Prosper ISD and the cities of Melissa and McKinney were among many cities in Collin County that saw substantial increases in their appraised property values for 2008.

The Collin Central Appraisal District released its certified property values for all taxable entities in Collin County on Monday.

The Collin CAD had until July 25 to release at least 95 percent of its certified property values for all taxable entities in the county, which includes all cities, public school districts, Collin County, the Collin College District, and municipal utility districts. However, because the Collin CAD Appraisal Review Board has not had time to review all of the protested property values, the certified values released on Monday only included 97 percent of the certified property values for 2008, said Collin CAD chief appraiser Jimmie Honea. All of the property values for all taxable entities were not certified on July 25 because members of the Collin CAD Appraisal Review Board ran out of time to review the 36,000 protested property values, Honea said. One tax consultant filed 2,800 protests alone, Honea said. He expects to have the remaining three percent of the property values certified by mid-September, Honea said.

Each taxable entity uses the certified property values in their calculating their budgets each fiscal year. The cities, school districts, Collin County and the Collin College District will approve in September, along with their tax rates.

The town of Prosper had the highest percentage increase in certified values for all taxable entities in Collin County for 2008. The town of Prosper’s certified value for 2008 is $982,785,975, which is 31.74 percent higher than the 2007 certified value of $745,977,200.

Prosper town manager Mike Land said the increase in assessed values for property in Prosper will help the city’s upcoming 2008-2009 budget, but any revenues generated from the values has already been accounted for to support the city’s growing population.

The town of Prosper’s 2008-2009 budget includes $5.5 million in the general fund, and an excess of $500,000 of the budget will be used to pay for the salaries of six firefighters and paramedics for the Prosper Fire Department, Land said.

“It’s a wonderful place to be with the growth. We’re still a small community, but we don’t have a strong retail base. The increase in certified values is associated with home building, but the homes are very large, and on average are 5,000 square feet and cost $400,000 to $500,000,” Land said.

The Prosper ISD also had the second highest percentage increase in its certified values for all taxable entities in Collin County for this year. Its 2008 certified property value was $1,603,378,123, which is 22.95 percent higher than the 2007 certified property value of $1,304,047,125.

The city of McKinney’s certified property value for 2008 is $10,540,361,398, which is 8.87 percent higher than the 2007 certified value of $9,848,855,100. However, the Collin CAD Appraisal Review Board also has $333,988,920 worth of property values that have been protested by McKinney property owners that the board has to review, Honea said.

The 2008 certified value for McKinney includes $522,340,010 in new properties.

The McKinney ISD’s 2008 certified taxable value is $9,048,587,807, which is 6.66 percent higher than the 2007 certified value of $8,483,216,022,

Collin County’s certified value for 2008 is $71,634,660,825, which is 4.29 percent higher than the 2007 certified value of $68,715,640,383.

The Collin College District saw a 7.17 percent increase in its certified value for 2008, which is $73,642,700,722. The district’s 2007 certified value was $68,715,640,383.

The city of Weston’s certified property value grew 9.53 percent in 2008. Its certified value for this year is $33,281,017 and its 2007 certified property value was $30,366,289.

The city of Melissa’s certified value for 2008 is $340,189,642, which is 10.40 percent higher than $308,189,642.

The Melissa ISD’s certified value for 2008 is $430,725,766, which is 9.41 percent higher than the $393,668,004.

The city of Lowry Crossing, located immediately east of McKinney, had a certified taxable value of $94,452,373 for 2008, which was an increase of 1.74 percent from its 2007 certified taxable value of $92,836,677.

The Princeton ISD’s certified value for 2008 of $515,221,143 is 6.23 percent higher than the 2007 certified value of $484,988,854.

The city of Princeton’s 2008 certified value is $255,018,733. That value is 2.92 percent higher than the 2007 certified value of $247,773,490.

Property values continued to increase in Anna, located about 12 miles north of McKinney this year, as the city of Anna’s 2008 certified value is $383,935,013. That is 7.77 percent higher than the 2007 certified value of $356,238,071.

Anna ISD’s 2008 certified value is $531,747,143, which is 7.26 percent higher than the 2007 certified value of $495,773,220.

Blue Ridge ISD’s certified value for 2008 dropped from its 2007 certified value of $122,087,673. Blue Ridge ISD’s 2008 certified value is $120,348,393.

The city of Celina’s certified property value for 2008 is $463,137,588, which is 11.45 percent higher than the 2007 certified value of $415,562,113.

The Celina ISD’s certified value for 2008 is $649,116,920, which is 15.09 percent higher than the $563,715,640,383 2007 certified value.

Contact staff writer Brandi Hart at hartb@acnpapers.com. To post comments online, access this story at www.scntx.com.

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