DALLAS — If you own a home in North Texas, you probably already assumed this: Property tax appraisals have gone up across the board.
Now we have a better idea of exactly how much, at least in Dallas County.
A City of Dallas memo to councilmembers last week outlined the total appraisal values within city limits, which includes homes in the Dallas, Collin, Denton and Rockwall appraisal districts. The city's "certified value" -- a sum of all property appraisals -- jumped 8.5% from 2023 to 2024.
The total certified value is now $215.1 billion, which is $16.9 billion more than in 2023, according to the memo, which was sent to councilmembers from the city's chief financial officer, Jack Ireland.
Most Dallas property falls within the Dallas Appraisal District, where certified values jumped from around $188 billion in 2023 to around $204 billion in 2024, marking an 8.6% increase. There's about $7 billion in Dallas property within the Collin Appraisal District, around $2 billion in the Denton Appraisal District and around $16 million that falls within the Rockwall Appraisal District.
Ireland's memo said $5.1 billion of the property appraisal increases were from new construction builds, while the remaining roughly $11 billion was from re-appraisals of existing properties.
Ireland's office said the city will now take the numbers and work with the county's tax office to calculate the no-new-revenue tax rate and voter-approval tax rate, both of which are based on the certified values. The city's revenue increase from re-appraisals is capped at 3.5%, regardless of how much the overall value goes up, per state law, Ireland noted in the memo.
The numbers will all factor into the city's new budget, which councilmembers will discuss and review in August.
Last year, the city cut the tax rate for the eighth straight years, lowering it from 74.58 cents per $100 valuation to 73.57 cents per $100 valuation.