Princeton certified property tax values released by Collin Central Appraisal District in July drastically increased from estimates made earlier this year.
Collin CAD released its property tax estimates in late March and the certified values on July 18. The certified values are used by governmental entities to set ad valorem taxes to fund their budgets for the year. Princeton property owners pay taxes to the city, school district, Collin County and Collin College.
The overall certified value for the city of Princeton came in at $858.57 million, a 30.30 percent increase from 2017 and also more than the 19.33 percent rise estimated in spring.
Princeton added $93,145 million to its tax rolls from new construction. The valued of existing property went up 16.16 percent with the CAD calculating the average price of a home in Princeton this year is $200,261, compared to $177,340 in 2017.
Value of all property in Princeton Independent School District was certified at $1.2 billion, up 25.73 percent from the 2017 value of $982.18 million. New construction accounted for $103 million of the increase, with the rise on existing property figured at 15.20 percent.
By Wyndi Veigel • News Editor • [email protected]
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