County's taxable values increase in 2011
#1 Jul 29, 2011
smithson is the only one that thinks home values are stable, because he oversees the appraisals. Home values have declined 25% nationwide in the last 4 years, and continue to decline, but taxable values in Cooke County continue to go up. Not many homes in Cooke County could be sold for current taxable value, taxable value generally runs about 10% UNDER sellable value. But in Cooke County taxable value allways goes up 3% to 7% annually. How can that be? It can be, because Smithson won't pull his head out of his a@% long enough to read the newspapers and see whats going on around him. Thats the reason no businesses will build in Cooke County, because of the ever increasing property tax. Cooke County is so unfriendly towards businesses that it leaves the bulk of the taxburden to be bore by the homeowner. CCAD dosen't want business in county because they are not smart enough to figure business taxes. Now all they have to do is issue the costumary 3% to 7% increase every year to increase revenue.
#2 Sep 11, 2011
Several taxing entities are increasing their tax rates because of the depreciation of the windmills. The windmills added about $189 million to Cooke County Tax values in 2009. That was a windfall for the taxing entities like the college and county. It wouldn't be so bad except once they got the tax money for that year, as the windmills rapidly depreciate, $24 MILLION JUST IN 2010, the college was able to raise their tax rate from 7.01 cents to 7.12 cents. Through a quirk in state law, they were able to claim this wasn't a tax increase because they needed to raise the rate to get the same tax revenue they got in 2009. Since the windmills didn't add any student load, why couldn't they have settle for the tax revenues they got in 2008 before the windmills came on the tax rolls. NCTC raised the tax rate again in 2011 to 7.17 cents but again claimed it wasn't a tax increase.
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