Collin County’s Budget and Tax Rates for Fiscal Year 2010

Collin County Commissioners Court have approved the county’s tax rate and budget for the fiscal year that began Oct. 1, so we’re posting many key documents here related to our budget process.

For the best summary of what our tax rate is, and what our budget is for this year, please see the Highlights of the FY 2010 Adopted Budget.

The bottom line: the county’s tax rate is unchanged from last year, and our budget is virtually “flat” from the previous year.

This year’s tax rate is $0.2425 per $100 of taxable value, approved by the Commissioners Court in a public hearing on Sept. 28, 2009.

The County Auditor published the Effective and Rollback Tax Rate on Aug. 27, 2009, which equated to an Effective Tax Rate of $0.24941 per $100 valuation. The Effective Tax Rate enables the public to evaluate the relationship between taxes for the preceding year and for the current year, based on a tax rate that would produce the same amount of taxes if applied to the same properties in both years. Had Collin County Commissioners proposed a rate higher than that amount, it would have triggered mandatory public meetings and published media notices. The Total Rollback Rate this year was $0.259072. Likewise, the county’s debt service rate for this year is $0.05542, lower than last year’s rate of $0.05824.

The Adopted Tax Rate for Collin County of $0.2425 per $100 valuation is lower than both the effective and the rollback tax rates listed above. The Maintenance & Operations rate, as well as the Debt Service tax rate were also approved in the Sept. 28, 2009, Commissioners Court session.

For background, the average taxable value of a residence homestead in Collin County last year was $235,031, according to the Collin Central Appraisal District. Based on last year’s rate of $0.2425 per $100 of taxable value (and including the 5% homestead exemption) the amount of county taxes imposed on the average home was $541.45.

The average taxable value of a residence homestead in Collin County this year is $233,591. When Collin County adopted the effective tax rate for this year of $0.24941, the amount of taxes imposed on the average home came to about $553.47. With the approved tax rate holding at $0.2425 per $100 valuation, however, the amount of taxes imposed this year by the county on the average home comes to $538.14.

Please note that individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of a property in relation to the change in taxable value of all other property and the tax rate that is adopted.

Below are links to Commissioners Court Orders related to the current fiscal year, including:

• Adoption of the FY2010 Budget
• Approval of the Compensation (pay) of Elected Officials
• A chart of elected officials’ pay rates – or salaries -- for the current fiscal year
• An order adopting the county fee schedule, and a detailed fee schedule for FY 2010

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