Collin County Proposes 2026 Budget with Steady Tax Rates and Revenue Growth

Collin County officials presented a detailed overview of the proposed tax rates and budget for the upcoming fiscal year during a recent government meeting, highlighting steady growth in property values and the implications for local residents.

The meeting revealed that new construction in Collin County has maintained a consistent growth rate of 3 to 4% annually. This growth is crucial as it directly impacts the county's revenue, which is primarily derived from new construction under the "no new revenue" tax rate. The proposed tax rate for 2026 remains unchanged at 0.149343, marking the first time since 1992 that taxes have not increased.

Key figures from the meeting indicated that the average market value of a home in Collin County is now $603,190, reflecting a 0.5% increase from the previous year. Homeowners with a residential homestead exemption can expect their taxable value to rise by approximately 10%, while those without the exemption may see a more modest increase. For instance, a homeowner with a homestead exemption will pay about $823.79 in county taxes, up from $748.90 last year, while those without the exemption will see their taxes rise to $900.82 from $895.93.

The meeting also addressed the impact of House Bill 1522, which mandates the use of the median homestead property value for tax statements. This year, the median value is reported at $480,773, a 7% increase, leading to an estimated county tax of $718 for homeowners, up from $671.10 last year.

In addition to tax discussions, the proposed budget for 2026 was outlined, with total estimated revenues reaching $323.5 million, a 10.3% increase over last year. This budget includes significant allocations for road and bridge maintenance, reflecting ongoing development in the county's unincorporated areas.

Overall, the meeting underscored the county's commitment to maintaining stable tax rates while addressing the needs of a growing population. As Collin County continues to develop, officials emphasized the importance of transparent communication regarding tax implications and budgetary decisions that directly affect residents' daily lives.