The City is authorized to levy an annual ad valorem property tax on real property and personal property within the City. The City currently levies a property tax on real property (i.e. land and improvements), mobile homes and on business personal property. The Central Appraisal District for each County with property boundaries within the city, determine the value for each property in the city. The City of Wylie encompasses Collin County, Rockwall County and Dallas County.

Property tax roles are certified in July and the tax rate is adopted in September, along with the City's annual operating budget. The City of Wylie tax collector sends statements in October to each taxpayer. Tax revenue is used to support General Fund operations and to fund long-term bonded indebtedness. Taxes are levied on January 1 of each year and are considered past due on February 1 of the following year.

The total assessed valuation increased by $38,381,856. Of this amount $854,215 represented new construction. The increase in the assessed valuation in FY2009-2010 will generate an additional $274,884 in ad valorem tax revenues for Maintenance and Operations. The tax rate for the Interest & Sinking fund was increased from $0.33695/$100 to $0.34868/100 as a result of the bond and certificates approved by the voters. This tax levy will generate $12,229,268 for the General Fund and $7,749,837 for the Interest & Sinking Fund.

The average homestead value is $153,305, which is an decrease of 1.16% over the prior year. Overall, total assessed valuation was 2.19% greater than prior year. Over the past 7 years, new construction permits have ranged from 250 to 1,430. This growth trend is expected to continue to decline into 2010, based on information from builders, planned subdivisions within the city and anticipated commercial development.

The Tax Assessor/Collector is responsible for calculating, billing and collecting taxes.

Visit the Central Appraisal District of Collin County for important information concerning tax rates, exemptions, appraisals, certified totals, protest procedures and other important tax information.