The Collin Central Appraisal District's 2019 land value estimates marked another year of property value increases for the city of McKinney and Collin County.
The Collin Central Appraisal District estimated McKinney's 2019 taxable value is approximately $23.5 billion. That is a $1.5 billion increase over 2018 values.
County values increased from $138.1 billion in 2018 to $148.5 billion in 2019—a 7.5% increase.
Bo Daffin, chief appraiser for the Collin Central Appraisal District, said the county is still seeing a steady stream of new construction, but year-over-year value growth is slowing.
"As a general statement, I still think that it’s a seller's market,” Daffin said. "It’s just not at the same fevered pitch that it may have been 18 months ago."
Daffin said the supply of residential property inventory is beginning to balance out with demand.
Of the county’s $6 billion in new construction since 2018, approximately $2.8 billion was from residential and multifamily projects. Commercial projects comprised $1 billion of new construction, and the remaining was either industrial or new business property inventory, Daffin said.
The appraisal values account for tax exemptions, such as exemptions for people age 65 or older or citywide homestead exemptions.