At a Sept. 12 meeting, county commissioners approved a fiscal year 2022-23 budget of $434.6 million, which is a 3.48% increase from the current year. It includes the county’s general fund; road and bridge and permanent improvements funds; debt service funds; and all other funds, such as health care, the Collin County Toll Road Authority and more.
Commissioners also decreased the property tax rate for the 30th year in a row. The new tax rate is $0.152443 per $100 valuation. The current rate is $0.168087.
Using the average home value in Collin County of $513,136, the new tax rate will cost residents an extra $115.63 per year for houses without a homestead exemption, according to the county.
This year, the average value of a Collin County home increased by 29.4%. In the last fiscal year, it increased 6.32%.
Collin County staff noted the strong residential market increase this year was unusual and that it was the main source of tax base growth.
The county budget also includes 16 full-time positions. They include new prosecutors, district clerks, a deputy fire marshal and sheriff’s office deputies, among other positions. Pay increases for county employees and elected officials were also part of the budget.
Collin County Judge Chris Hill and Precinct 3 Commissioner Darrell Hale voted against the increased tax rate, and the other three commissioners voted for it. Hill said he would like to see the county adopt the no-new-revenue tax rate, which would have been $0.14969. Hale pointed out inflation this year has hit Collin County residents hard and that he wanted to provide some tax relief.
Other commissioners pointed out the county could not adopt the no-new-revenue rate and provide competitive pay increases for county positions.
"Things cost money," Precinct 1 Commissioner Susan Fletcher said. "We have set the bar. We have the lowest tax rate in the entire state. ... That says something to me."
FY 2022-23 will start Oct. 1. For more information on the county budget, visit www.collincountytx.gov/budget/Pages/default.aspx.
