Plano, Texas – The value of properties in Plano has continued to rise rapidly, and by 2024, the city’s overall market value has reached an all-time high of $78.79 billion. According to the latest data from the Collin Central Appraisal District, that number is a significant 41.1% more than it was in 2020. This shows that both the residential and commercial sectors have been growing steadily.
Plano property values have exploded in recent years
Plano’s net taxable property value has also gone up quite substantially in the last four years, going from $45.17 billion in 2020 to $60.75 billion in 2024, a 34.5% increase. But the way to this growth wasn’t always easy. In 2022, taxable values fell to $45.01 billion for a short time before rising sharply to $56.03 billion in 2023.
The huge rise in the value of single-family homes has been a major factor in this growth. From 2020 to 2024, the values in this category went up by 54.4%, bringing the entire market value to $40.06 billion. Plano had 61,777 single-family homes in 2022, which were worth $36.14 billion on the market and $28.67 billion in taxes. This made them by far the biggest category in the city’s real estate profile.
Commercial real estate properties value in Plano
There are also a lot of commercial real estate properties in Plano; in 2022, there were 2,237 of them for a total of $8.7 billion. These assets added almost all of their value—$8.66 billion—to the city’s taxable base, showing how important they are to the city’s tax system.
Another area that saw substantial movement was personal property, which grew from $3.45 billion in 2020 to $4.6 billion by 2024. This happened at the same time as a big 17.1% rise in the number of properties between 2022 and 2023, which means that both the population and business activity are growing.
Plano has issued a growing number of property tax breaks in 2024
There were also a lot more property tax breaks. In 2024, the total amount of exemptions was $14.76 billion, which is $4.71 billion more than four years earlier. Exemptions for seniors over 65 also went up, from $698.9 million to $816.5 million in the same time period. This growth could mean that house values are going up and more older people are taking advantage of tax breaks that are available.
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In 2022, the average homestead property in Plano was worth $464,532 on the market and $382,982 for tax purposes. These numbers show that the neighborhood is getting richer, but they also make people wonder about how affordable housing will be in the future and how much property tax residents will have to pay.
A total of 3,395 properties in Plano were disputed for their value in 2024
At the same time, the appraisal district noted 3,395 properties that were disputed, which had a market value worth of $2.40 billion. This shows that not all property owners are accepting their new valuations without a fight.
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The steady rise in property values shows that Plano’s economy is strong and that it remains a good place for homeowners, investors, and businesses to live. The city is one of the best places to grow in North Texas because demand is rising and the population is growing.
