The 2007 proposed market value for the Kastel building was $6,217,336 (See notice). As of this morning the Collin CAD has posted the revised valuation of $4,723,880 (See notice) for 2007. What does this mean? The initial estimated taxes were $171,740 and now they will be approximately $130,379. The initial assessment was $218 per square foot, and now the assessment is at $166 per square foot. See my May 3, 2007 posting in regards to the valuation of the Kastel building. Interestingly enough, my alaysis indicated a value of $4.8 million to $5.0 million, which is within $76,000 of the final assessed value.. I have created an updated spreadsheet here.
