New construction in Princeton added $386.8 million in appraised value. Overall, new construction in Collin County was valued at $7.3 billion while average home values were the same as the county averages. File art
Princeton’s property values continue to grow, according to the latest certified values released by the Collin Central Appraisal District (CCAD), bolstered by nearly $387 million in new construction.
CCAD certified value summaries were released July 25 to taxing entities and the public and the city’s property values grew 35.32%. 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 in September when they approve the budget for the next fiscal year.
Property values in Princeton were assessed at $3.28 billion in 2023, compared to $2.42 billion in 2022. New construction added $386.8 million in appraised value.
The average home value in the city jumped over $36,000 to $345,594 in 2023, compared to $309,264 one year earlier.
Princeton ISD also saw a significant increase with total certified taxable value of $4.13 billion in 2023, a 27.02% increase from $3.25 billion in 2022.
New construction in the PISD was valued at $566.7 million this year. The average home average in the district was $340,270 in 2023, compared to $296,791 one year ago.
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