Rockwall County property values increased by 7.6 percent this year, compared to 10.9 percent last year, the smallest increase in more than a decade for one of the nation’s fastest growing counties.
The more modest increase reflects the growth slowdown across the County.
The Rockwall Central Appraisal District released certified appraisals July 31 which show continued growth across the county to $6.7 billion in taxable value, an increase of $475,157,728.
New construction represented about three-quarters of that growth.
The City of Fate, with a population of 4,800, led the county with a 15.2 percent increase in property values – largely from new construction. The city of Rockwall was up 8.1 percent, and Rockwall ISD up 10.5 percent. The City of Heath’s value grew by 6.4 percent.
Rockwall County auditor John Blackwood said the appraisals came in strong enough to support the county’s preliminary budget for next year.
Consequently, cities and school districts can prepare more detailed budgets for the next fiscal year, which begins Oct. 1.
The slower growth in property values had been expected. According to the North Central Texas Council of Governments, double-digit valuation growth in recent years was the result of a home construction boom that caused the county’s population to increase nearly 70 percent, to 73,500, between 2000 and 2007.
The boom has slowed, however, to only 3.4 percent population growth last year.
Despite the slower 7.6 percent growth in taxable value, Rockwall still outpaced neighboring Collin and Dallas counties, which reported certified appraisals last month of 4.3 percent and 6.9 percent, respectively.