New certified property rolls from the McLennan County Appraisal District show something most owners are already well aware of: a stark increase in property values throughout McLennan County.
Since the numbers came out a week ago, taxing entities have been calculating their 2023 property tax rates. McLennan County Commissioners on Thursday approved the no-new-revenue rate for the county, roughly the rate at which the county would collect the same amount of revenue as last year, not counting revenue from properties added in the past year. The city of Waco released its proposed budget Friday night with a proposed tax rate of about 76.48 cents per $100 of property value, more than 8.6 cents higher than the city’s no-new-revenue rate.
Certified property values for the county total about $24 billion, up about 17% from almost $20.6 billion last year. County Auditor Frances Bartlett said the $24 billion total includes about 275 properties, worth about $159 million, whose appraisals remain in dispute.
Chief Appraiser Joe Don Bobbitt said this year’s jump in property values follows another unusually high jump a year ago.
“It’s all driven by supply and demand and construction costs,” Bobbitt said.
Increasing interest rates may make home loans less affordable and keep a lid on prices moving forward, he said.
Bobbitt said he originally estimated in April the county’s rolls would increase by 24%, but as owners have protested the appraisal district’s valuations, that number got whittled down.
He said the overall number of protests increased from 15,000 last year to 19,000 this year.
The city of Waco has proposed a rate of 76.48 cents per $100 of property value, a slight decrease compared to last year’s rate of 76.73 cents per $100, but about 8.6 cents higher than its no-new-revenue rate, according to city budget documents posted Friday night. The city also calculated a no-new-revenue tax rate of almost 68 cents per $100.
City of Waco Budget Director Nick Sarpy said Waco saw a jump in property values, with a certified total value of $13.4 billion, a 12% increase from almost $12 billion last year.
“Historically it’s been somewhere between 6% and 7% growth of the net taxable value year over year since fiscal year 2018,” Sarpy said.
A total of 138 properties in Waco valued at $97.8 million are still in dispute.
Certified appraisal value estimates for McLennan County, 2022
Source: McLennan County Appraisal District. Numbers reflect certified estimates for taxable value after exemptions.
| Entity | 2019 | 2020 | 2021 | 2022 | 2021-22 change |
|---|---|---|---|---|---|
| McLennan County | $18,236,797,916 | $19,310,650,425 | $20,569,534,448 | $24,007,005,734 | 17% |
| McLennan Community College | $19,392,705,435 | $20,450,975,136 | $21,691,563,127 | $25,236,030,634 | 16% |
| CITIES | |||||
| Waco | $10,780,589,830 | $11,317,388,527 | $11,960,883,068 | $13,422,183,466 | 12% |
| Bellmead | $479,460,340 | $500,302,010 | $539,806,507 | $637,678,533 | 18% |
| Beverly Hills | $107,110,798 | $109,548,113 | $119,533,046 | $142,204,024 | 19% |
| Bruceville-Eddy | $69,248,696 | $70,346,484 | $75,432,361 | $85,253,644 | 13% |
| Crawford | $58,781,884 | $66,698,191 | $73,357,251 | $88,177,150 | 20% |
| Gholson | $47,396,711 | $52,165,826 | $60,567,999 | $76,288,394 | 26% |
| Golinda | $9,085,800 | $10,627,538 | $10,795,821 | $12,386,058 | 15% |
| Hallsburg | $22,633,393 | $24,032,804 | $32,098,273 | $38,995,779 | 21% |
| Hewitt | $1,008,342,875 | $1,045,224,354 | $1,132,424,429 | $1,301,880,092 | 15% |
| Lacy Lakeview | $395,870,174 | $416,741,897 | $440,276,768 | $511,847,650 | 16% |
| Leroy | $12,214,674 | $13,552,863 | $14,846,576 | $18,218,934 | 23% |
| Lorena | $123,854,376 | $130,600,333 | $139,504,449 | $158,908,692 | 14% |
| Mart | $49,014,621 | $50,986,174 | $56,791,106 | $74,231,573 | 31% |
| McGregor | $427,581,331 | $464,442,060 | $505,371,130 | $601,422,153 | 19% |
| Moody | $50,955,483 | $57,770,039 | $70,104,228 | $86,055,270 | 23% |
| Riesel | $67,535,407 | $77,516,458 | $75,166,046 | $89,464,047 | 19% |
| Robinson | $929,969,501 | $1,012,251,493 | $1,116,058,971 | $1,319,505,543 | 18% |
| Valley Mills | $1,413,777 | $1,472,110 | $1,625,782 | $2,669,365 | 64% |
| West | $196,572,824 | $214,399,089 | $231,458,817 | $273,107,952 | 18% |
| Woodway | $1,250,365,820 | $1,302,245,407 | $1,423,078,205 | $1,599,625,910 | 12% |
| SCHOOL DISTRICTS | |||||
| Waco ISD | $6,137,042,570 | $6,513,540,686 | $6,735,883,560 | $8,058,531,066 | 20% |
| Midway ISD | $5,060,567,934 | $5,120,507,246 | $5,587,079,444 | $6,497,948,484 | 16% |
| Axtell ISD | $130,106,358 | $139,028,228 | $157,652,122 | $186,159,599 | 18% |
| Bosqueville ISD | $183,976,756 | $193,799,677 | $213,690,950 | $250,409,865 | 17% |
| Bruceville-Eddy ISD | $163,797,547 | $174,455,594 | $182,384,060 | $204,382,481 | 12% |
| China Spring ISD | $870,873,390 | $930,620,740 | $1,012,255,150 | $1,210,087,911 | 20% |
| Connally ISD | $715,496,533 | $738,351,280 | $805,726,856 | $953,040,455 | 18% |
| Crawford ISD | $188,641,982 | $204,585,326 | $217,829,862 | $276,611,305 | 27% |
| Gholson ISD | $51,296,715 | $55,049,028 | $61,941,152 | $79,621,023 | 29% |
| Hallsburg ISD | $75,540,471 | $79,870,801 | $90,458,435 | $111,786,515 | 24% |
| La Vega ISD | $947,574,150 | $988,691,325 | $1,042,613,236 | $1,185,205,466 | 14% |
| Lorena ISD | $491,954,155 | $527,279,244 | $594,072,010 | $709,267,709 | 19% |
| Mart ISD | $81,408,650 | $82,914,519 | $94,772,502 | $116,234,985 | 23% |
| McGregor ISD | $454,720,815 | $490,047,749 | $524,320,112 | $616,027,188 | 17% |
| Moody ISD | $118,454,828 | $131,021,361 | $149,801,056 | $181,426,084 | 21% |
| Oglesby ISD | $805,697 | $861,805 | $894,245 | $949,097 | 6% |
| Riesel ISD | $484,011,713 | $538,149,398 | $370,996,581 | $400,374,514 | 8% |
| Robinson ISD | $657,221,126 | $713,660,921 | $784,023,188 | $941,576,345 | 20% |
| Valley Mills ISD | $57,759,559 | $61,709,524 | $71,318,509 | $82,821,460 | 16% |
| West ISD | $441,844,620 | $471,724,948 | $523,307,442 | $624,541,865 | 19% |