It's easy to explain why buyers move out to Fairview and Lucas and even easier to explain why they buy into Lovejoy ISD. Quality of life, very low crime, low traffic, close city conveniences, quick access to major thoroughfares, trees, great schools, huge lots from an acre in size, and lots of room for kids to play.
It's also easy to explain why those same buyers leave the area. I hear it all the time on listing appointments. It's usually because the kids are through high school and the parents are tired of paying high city and school taxes.
New homes coming out of the ground in Fairview now average right at $1 million. This has become a very expensive and prestigious area to live. That can be viewed either as a good or bad thing depending on your point of view. It's certainly not Highland Park, but it's on it's way if things keep progressing like this.
Here are a couple of tables created by Texas Scorecard illustrating how quickly both city and school property taxes have increased from 2013 to 2016.
This First Table Shows Increases in City Property Taxes
Fairview's in the middle of the pack and Lucas, where we live, is near the bottom. So I'm loving that!
This Second Table Shows School Property Tax Increases
Here are several things I noticed on this table ...
The 5 towns with the largest tax increases are all located along and east of Hwy 75. Most of Fairview and Lucas are within Lovejoy ISD, 4th from the top.
Anna his ranked #2 on city property tax increases and #1 on schools. Those guys are getting hammered both ways, but then again, the average net taxable is on the lower end of the scale.
The school tax rate of for Lovejoy ISD is almost identical to Anna, but here's the rub. The net taxable of Fairview is a whopping $467,247 vs $134,566 for Anna. In fact, Fairview has the highest net taxable value of any city in Collin County. I have no idea how they came up with these net taxable values, but it wouldn't surprise me.