Property values across Wood County continued to rise in 2023, though the rate of increase was much lower than recent years.

Preliminary values released by the Wood Couty Appraisal District last week showed the total market value of all properties in the county reached $9,677,625,256 as of Jan. 1, 2024.

The preliminary report a year ago showed county properties valued at $9,193,416,018 for a net increase of 5.26%.

After all exemptions were calculated, the net taxable value of those properties – the amount that taxing entities such as cities, schools and the county can assess taxes upon – went from just over $6 billion a year ago to almost $6.3 billion.

Those figures are anticipated to change slightly as property openers file protests of their values.

The increases would have been higher if not for a drop of more than $110 million in the value of minerals – oil and gas.

Those properties were valued at $520 million last year and fell to $409 million, primarily impacting the Hawkins area.

The largest category, improvements on home sites, rose from $3,172,619,225 last year to $3,407,004,998 this year.

Non-homesite improvements rose $89 million to $1,438,638,338.

Total land values last year were $3,348,310,152 and increased to $3,609,941,970.

Homesites went from $505 million to $586 million while non-home sites rose from $706 million to $737 million.

The value of agricultural land in the county, before exemptions, was set at $1.54 billion, up from last year’s $1.46 billion.

Timber land rose from $675 million to $745 million.

Business personal property (inventory, fixtures, etc.) was valued at $812 million, up $20 million from last year.

Adjustments to values for taxing purposes included $2.2 billion for agricultural productivity, caps on homesteads of $480 million and exemptions of $582 million.

School district preliminary values a year ago did not account for the increased homestead exemption approved by voters last November. It resulted in taxable values falling while market values generally rose.

School district changes in net taxable value and market value include the following:

Alba-Golden - $519 million, down $35 million. (Market value rose $43 million.)

Hawkins - $938 million, down $112 million (minerals decreased $92 million). (Market value dropped $3 million.)

Mineola - $992 million, down $105 million. (Market value rose $37 million.)

Quitman - $815 million, down $46 million. (Market value rose $148 million.)

Winnsboro - $664 million, down $38 million. (Market value rose $152 million.)

Yantis - $606 million, down $22 million. (Market value rose $58 million.)

City changes in net taxable value include the following:

Alba - $36.6 million, up $1.2 million

Hawkins - $136.6 million, down $7.5 million (minerals decreased $15 million).

Mineola - $469 million, up $9 million

Quitman $202 million, up $14 million

Winnsboro $275 million, up $8 million

Yantis $32 million, up $2.5 million

The complete preliminary report can be found at woodcad.net.

Final values are scheduled for release in July.