Real Estate Development in Collin County
Real estate development in Collin County. And how do you go about doing it? We have a nice PowerPoint presentation from Collin County, from Tracey Field, Rumsfeld, Rumsfeld, whatever it is, assistant director of engineering covered this one and this is a course that was put together so you can get some information on it.
And I just figured we would go ahead. Maybe, you know, somebody that has land or you want to find somebody that has land and you’re thinking, huh, how can I help them? Divide it up, chop it up, sell it off and get your all of your clients to a property.
So this is covered from September of 2021, has all this information and it was shared over with us. So we’re going to go ahead and share it. So what is the subdivision of land? Right.
So Collin County is the division of a tract of land situated within Collin County and outside the corporate limits of any municipality into two or more lots, parcels or tracts for purposes of sale or development and or for the purpose of laying out roadways, alley squares, if you’re into squares, parks, public utility easements, public right of ways, private ingress, egress easements, drainage and stormwater improvements and or other parts or tracts.
Why am I reading this whole thing?
I don’t know. But the point is, if anybody is going to subdivide, it must be replanted. You can’t. There are exemptions and I think it’s if you have ten acres or more, you don’t have to. But if you have less than, then you have to.
So there are some exemptions. But pretty much you’re not going to fall into that. Right. Are you going to read this to us? No, I’m not going to. I’m not. Yeah, there’s a map.
But it is nice to understand, you know, who regulates that, like us and our McKinney property has we’re in an J and there are different regulations for that because we don’t fall under the city regulations, so we fall under the county. So it’s it’s interesting.
And then if you live outside the bay, then there’s other things. If you’re not even within that. Right, you’re in some other areas of land.
Then there are other regulations that go along with this. There’s stuff to do with flood zones and what’s going on there. Yeah. And so anyways this is kind of what it covers here. So if you’re a lot is less than one acre or larger than one acre, less than 150, then it kind of tells you like what type of roadways you need to have.
Yeah, these are things as realtors you may be thinking, oh, I’m just trying to find my buyers a home. These are things that add to your realtor tool belt that make you valuable. And these are things that you need to know.
Other things, you know, we’ve talked about like the closing, the deeds, the things that maybe you’re not 100% involved in, but you need to know so you can spot an issue or discrepancy or explain to your client if all of a sudden you get to closing and they’re like, What is this? And you don’t know it’s a problem, right?
There’s just different terms that you would pick up that you’re not sure of, is a term that you might not run across often, but it is nice to actually know what it is.
So I think taking time and reading through these things, you know, I just saw something on there. If you need a septic system, what do you have to do? You just put it in. No, there’s regulations for everything.
We’re just always trying to give you information from different places so that you have it and then you can do something with it.
And if you guys research and read something, share it with us, all of us. So we’re all informed, right? ETJ stands for Extraterritorial Jurisdiction.
Now something else that goes along with that, you know, when you’re in the county but not in the city. And I just figured this out the other day, it was kind of crazy is when we have an Amazon package shipped. And if it comes to our our place in Frisco, it’s taxed at the normal rate. So for example, if you sent something for if you purchase something for $100, we’d have the normal tax rate of 8.25.
However, if you ship it to the McKinney property, it’s outside of the city. And thus there’s no city sales tax, just the state sales tax.
So sending your stuff to 6.25%, so the sales tax is 2% less. So any time you buy something on $100, you save $2. So that’s worth there. You go. To all the savings.
Huge, huge, huge savings. Do something really cool with it.