The final totals are in, and the taxable value of property in Wood County rose by more than $800 million in the past year to $5.8 billion – a 22% gain.

The certified property values were released by the Wood County Appraisal District last week and sent to the taxing entities.

Those values will help determine property tax rates (and ultimately tax bills) that will be sent out around Oct. 1.

Cities, schools, the county and others will be holding public hearings concerning those tax rates, and the budgets they support, in the coming weeks.

Public notices announcing those hearings will appear in the Monitor and other publications.

The overall taxable value of property in the county was just over $5 billion a year ago with almost $7.4 billion in total market value.

School districts were sent two sets of values, based on the current homestead exemption of $40,000 and the proposed homestead exemption of $100,000.

Texas voters will decide the fate of the higher exemption in November, and if approved as expected, it will become retroactive for the current tax year.

The Alba-Golden school district was sent a value of $407.9 million under the $40,000 exemption and $368.7 million if the $100,000 exemption is approved.

The district’s values a year ago were $340 million.

Hawkins ISD saw its values rise from $805 million a year ago to either $898.5 million or $929 million.

Mineola school district values will be $812.8 million if the proposal passes and $870.6 million if it doesn’t.

Last year the values were $742.1 million.

Quitman’s school property values will rise more than $100 million under the old plan, reaching $674 million. That will drop to $618.8 million if the higher exemption passes. It was $572 million a year ago.

Winnsboro ISD will base its property tax on either $556 million or $512.1 million. The values were $476.9 million last year.

Yantis ISD values will rise to either $400.6 million or $421 million from $363.3 million.

Other taxing entities will not be impacted by the school tax exemption election.

Wood County has the largest tax base, incorporating all property in the county. The county’s values rose from $3.6 billion a year ago to more than $4.1 billion this year, after all exemptions and freezes are adjusted.

The value for the Wood County Hospital District went from $710.5 million to $825 million.

The value for Emergency Services District No. 1 rose from $522.8 million to $616 million.

The value of property in the city of Alba reached $34.2 million, up from $29.4 million a year ago.

Hawkins city property values rose from $126.9 million to $143.5 million.

Mineola saw the value of taxable property in the city go from $308.2 million in 2022 to $370 million this year.

Quitman’s city values rose from $113.4 million to $148.2 million.

The city of Winnsboro will base its tax rate on $222.4 million this year compared to $191.6 million a year ago.

Property in the city of Yantis was valued at $29.2 million. It was $22.3 million a year ago.

Countywide the market value of all properties was set at $9,017,252,545, a 21.9% gain from last year’s $7,395,496,454.

The value of all land is $3.3 billion, up $700 million, while improvements are valued at more than $4.4 billion, an $800 million increase. That includes almost $3.2 billion in homesites for a $600 million gain.

Land breaks out to $507 million for homesites, $667 million for non-homesites, $1.4 billion for agricultural land and $687 million for timber land.

Personal property (such as business inventory) is valued at $712 million, rising $81 million, while minerals are worth $511 million, up by $4 million.

Appraisals are reduced for taxes by $2.1 billion for agriculture exemptions. The cap on homesteads reduces taxable values another $550 million and all other exemptions total $535 million, leaving the next taxable value at $5,830,488,847.

The net taxable value was $3.7 billion in 2019, $3.8 billion in 2020 and $4.2 billion in 2021.