McKINNEY (Aug. 22, 2014) — The Collin County Commissioners Court unanimously agreed Thursday (Aug. 21) to lower the county’s property tax rate for the coming fiscal year which, if adopted next month, will mark the fifth county property tax rate cut in the last eight years. Collin County has not raised taxes since 1993.
Public hearings on the proposed tax rate, will be held Sept. 8 and 15, with a final vote to adopt the tax rate scheduled for Monday, Sept. 22.
The average home in Collin County for tax year 2014 is valued at $257,767, according to statistics compiled by the Central Appraisal District of Collin County. With the proposed county property tax rate cut from $0.02375 to $0.235 per $100 valuation – including a 5-percent homestead exemption – the average home owner will pay $575.46 in county taxes for the 2014 tax year.
Collin County’s tax base increased by 9.2 percent, from 2013 to 2014, with an adjusted taxable value of $86.4 billion, according to the appraisal district.
The proposed new rate only affects the county property tax rate, not rates applied by other local entities, such as school districts and cities.
The schedule of public hearings and meetings on the FY2015 budget can be found at the county’s webpage: collincountytx.gov.
About Collin County
Collin County is one of 254 counties in the state of Texas and is located north of the metropolitan area of Dallas. It has a population of over 812,000, growing at a rate of 3.8 percent according to 2011 estimates. It covers over 840 square miles in land area. It is bordered by Grayson, Fannin, Hunt, Rockwall, Dallas and Denton counties. The county was founded in 1848 and has a county seat of McKinney. Both the county and the county seat were named after Collin McKinney, one of the five men who drafted the Texas Declaration of Independence. For more information visit collincountytx.gov.