With housing prices escalating throughout Texas, especially in the Metroplex and all points east, it should come as little surprise that property values in Wood County have jumped during 2020.

According to preliminary 2021 values released by the Wood County Appraisal District, property values in Wood County (which are used to calculate property taxes) have reached almost $6.2 billion.

That compares to the final 2020 values last summer of $5.6 billion for a 10.3% hike.

Similar increases can be seen almost universally across the county, except for areas that have large portions of mineral values, which includes oil and gas properties.

The Hawkins city and school district did see substantially reduced values thanks to lower oil prices.

Mineral property in Wood County, which was valued at $341.6 million in 2020 has fallen to $280.6 million in 2021.

The preliminary numbers will become final in July once the Appraisal Review Board hears protests from property owners.

Once those adjustments are made, the certified values are sent to cities, schools and other taxing jurisdictions which then set property tax rates.

“The increase in value for 2021 is due to increased sale prices in 2020,” said Chief Appraiser Tracy Nichols.

Homesite improvements in 2020 were $1.85 billion and increased to $2.135 billion, in the preliminary ’21 figures. Homesites also jumped from $275 million to $329 million.

By category, values for land rose 10.4% to $2.187 billion, improvements rose 15.5% to $3.128 billion and non-real values (personal property and minerals) fell 5.4% to $877 million thanks to the drop in oil.

Net taxable values increased 10.8% to $4.259 billion after agriculture productivity, homestead and other exemptions are subtracted.

Changes for individual cities and school districts include the following:

City of Mineola rose from $288,615,412 to $329,911,574.

Mineola ISD rose from $564,363,054 to $640,968,294 after all adjustments. Market value rose from $1,007,555,956 to $1,119,339,28.

City of Alba declined from $24,640,224 to $24,080,832 thanks in part to a reduction in mineral values by $270,000 and almost $3 million in lower personal property values.

Alba-Golden ISD rose from $245,758,377 to $296,044,166 net and market value from $605,910,437 to $703,748,019.

City of Quitman values rose from $108,461,641 to $121,049,066.

Quitman ISD rose from $455,978,431 net to $568,506,824 with total market value rising from $1,030,316,310 to $1,121,194,745.

Yantis city values increased from $17,432,358 to $19,265,024.

Yantis ISD rose from $266,352,494 to $318,635,225.

City of Hawkins values dropped from $91,544,941 to $91,060,144 as minerals fell from $38,673,740 to $28,747,260.

Hawkins ISD declined from $626,867,933 to $624,811,024 with minerals dropping from $216 million to $164 million.

City of Winnsboro increased from $151,883,760 to $167,716,945.

Winnsboro ISD rose from $375,876,658 to $417,710,379.