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FISD Homeowners to See Lower Tax Bill

Aug 27, 2019

2018 to 2019 Tax Comparison
  2018  2019
 Average Market Value of Home $422,785 $429,499 
 Average Taxable Value of Home $397,785  $404,499
 Tax Rate  $1.44 $1.3383 
 Taxes on Average Home $5,728.10  $5,413.41 
 Tax Impact   -$314.69

Property owners in Frisco ISD will see more than a 10-cent decrease in the school district’s tax rate in 2019, saving the owner of the average home $315 compared to last year.

The tax savings come even as the average taxable value of a home in FISD increases from $397,785 to $404,499, after factoring in the homestead exemption. Total taxable values across the District, from both new and existing property, increased 7.8% over last year. 

The combined tax rate in 2019 will be $1.3383 per $100 valuation, down from $1.44 in 2018 and $1.46 from 2012-17. See detailed tax rate history

The state-mandated tax compression is part of House Bill 3, the comprehensive school finance reform bill passed by the Texas Legislature this spring. Beginning in 2020, HB 3 also includes a 2.5% cap on year-to-year local revenue growth. This means that Frisco ISD’s tax rate will drop as property values rise so that revenue from local property taxes does not grow more than 2.5% each year. 

To offset the loss of local revenue due to a lower tax rate, the state is increasing its share of total funding and reducing its reliance on recapture or Robin Hood. As a result, HB 3 increases operational funding for FISD at an ultimate savings to local taxpayers. 

FISD was in a better position to benefit financially from HB 3 thanks to voter support of a Tax Ratification Election (TRE) in November 2018. That election increased the tax rate for day-to-day operations, while also decreasing the tax rate that pays off debt.

The approved 2019-20 budget invests in priorities from both the TRE and HB 3 including:

  • Lower class sizes K-12

  • 3% or higher raise for staff

  • Increased employer-paid medical contributions

  • Future expansion of Pre-Kindergarten

  • Expansion of online learning

  • Additional campus and central support

  • Additional support for special education

  • Additional support for bilingual programs

Read more about the 2019-20 budget.

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