Wednesday, August 23, 2017

Real Number Breakdown of Appraised Values for McKinney

McKinney Citizen to Citizen (MCtoC) added real numbers to the percentages from McKinney’s FY2011-FY2018 Historical Makeup of Appraised Values slide from this year’s Budget Summit because percentages alone don’t tell the whole story. Citizens can think about what’s required for this residential/commercial balance if we have the real numbers and the percentages in one place.

Historical Makeup of Appraised Values with real numbers

From the City’s percentage slide alone, we can see that the Commercial category went down from 19.4% in FY2017 to 18.7% in FY2018.

We could be alarmed by that percentage drop until we see the real stock and money numbers from each property tax category. Every category increased, including Commercial. Single Family seemed to increase moderately. If you look at Lot, Land, Farm, it increased from 3,874 lots in FY2017 to 5,559 lots in FY2018 but represented the same percentage of total appraised value both years (at 8.1%). No, we don’t know what those lots will turn into. But, it does give us part of the reason that the Commercial percentage decreased this year. The real numbers are important for a complete picture.

It will be good to see how much Commercial has had property tax abatements over this period too.
This is a city of McKinney slide that was presented during the Budget Summit on 8/4/17. The real numbers were given to MCtoC by the Finance people through an Open Records Request. The city file has been posted in the File section of the MCtoC page on Facebook.

**If you look at the City’s spreadsheet for FY2013, there is an error in the total stock of Single Family residential. I just left it with a question mark on the slide because I can’t find the right amount. 

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