Royse City growth rate slows by half

July 15, 2008 11:02 am

— By Leslie Gibson
Herald-Banner Staff

Royse City’s total tax roll valuation is up about 10 percent over last year, less than half of the 21 percent growth rate the city experienced from the 2006 to the 2007 tax appraisal.
Royse City’s total net taxable valuation for this year, taken by adding together the pre-protest values ascertained by all three county tax appraisal districts, is a little below $478 million.
A 2 percent loss would put the valuation at $468 million, still about 10 percent more than last year’s certified appraisal which was right at $429 million. Two percent is typically lost to protests, according to chief appraisers of the Rockwall County Central Appraisal District (CAD) and the Hunt County CAD.
Not only did single family homes flatten in value, the tax roll is seeing less in new improvement values this year over last year.
Last year, the city had about $45 million in improvement values accounting for about 10.5 percent of the tax roll.
This year, the city has $30.5 million in new improvments, acounting for 6.5 percent of the tax roll.
New improvements consist of structures new to the tax roll, or change of acreage into lots.
Most of the City’s $30.5 million new improvement valuation is in Rockwall County — two-thirds, or $20 million. Hunt and Collin counties shared just about equally $10 million.
But, of the three counties it was Hunt, with the fewest number of properties on the Royse City tax roll, which has the highest growth rate in new improvements. Its $5 million new improvement valuation accounts for 35 percent of its total tax roll valuation in Royse City, which, pre-protest, is $14 million. That comes from 230 properties.
Collin County new improvements make up 7 percent of its total $76 million valuation. It had $5.5 million in new improvements. Collin County has 928 properties on the Royse City tax roll.
Rockwall County new improvements of $20 million, make up 5 percent of its total valuation of $388 million. Rockwall County’s 3,600 properties make up three-quarters of the City’s tax roll properties. The total valuation they bring is two-thirds of the City’s tax roll valuation.
When appraisals were made as of Jan. 1, 2008, many of the commercial buildings in Royse City now nearing completion were not on the ground.
Royse City issued in 2007 less than half the number of permits it issued in 2006. John Ward, building department director, said 195 permits were issued in 2007.
The average existing home valuation in the Rockwall County portion of Royse City is $126,800, according to the Rockwall CAD.
In past years, Rockwall CAD evaluated all the City’s properties, as it did all the properties in the Royse City school district.
State law changed that. Now, though Rockwall CAD will retain responsibility for tax collections for the city and the school district, each county’s central appraisal district determined the valuations.