School Board Drops Tax Rate for Third Straight Year

Sep 28, 2020

2020 Tax RateThe Frisco ISD Board of Trustees has lowered the District’s tax rate for the third straight year to the lowest level FISD has seen in more than 20 years.

On Monday, the Board approved a 2020 combined tax rate of $1.3102 per $100 property valuation, a 2.81-cent reduction from 2019. That includes $1.0402 for day-to-day operations and $0.27 for debt and interest payments. 

The tax rate decrease will save the average Frisco ISD taxpayer approximately $92 this year, even as the value of the average residence in FISD climbed $1,667 to $406,166. 

Overall, the total taxable value of property within Frisco ISD rose 6.2% over 2019 to $43.66 billion. The year-over-year appreciation of existing property was 1.02% in Collin County and 2.65% in Denton County. 

The District’s 2020-21 budget was based on slightly lower taxable value growth, and the higher-than-anticipated certified values will result in a $3.8 million loss of revenue to Frisco ISD this fiscal year. That is due to House Bill 3, the comprehensive school finance reform bill passed by the state legislature in 2019, which ties the maintenance and operations (M&O) portion of the tax rate to property value growth. 

Since 2017, Frisco ISD’s combined tax rate has dropped from $1.46 per $100 valuation to $1.3102 in 2020. That amounts to a $241.68 reduction in property taxes for the owner of the average FISD home in 2017 despite an increase in appraised values over that time period.

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