Property Tax Rate to Drop Another Four Cents

Sep 14, 2021

Property owners in Frisco ISD will pay the lowest tax rate in more than two decades in 2021, but homeowners are still likely to see a small increase over last year due to rising property values. 

The FISD Board of Trustees adopted the tax rate during its regular meeting on Sept. 13. The combined tax rate will be $1.2672 per $100 valuation, a more than four-cent drop from the 2020 rate of $1.3102.  

That number includes $0.9972 for day-to-day maintenance and operations and $0.27 for principal and interest payments on debt. It is the first time since 2007 that the portion of the tax rate that supports operations of the District will fall below $1.00. 

The tax rate will be lower than previously projected due to a state-mandated tax compression that limits revenue growth as a result of rising taxable values. Overall, the total taxable value of property within Frisco ISD rose 6.7% from 2020 to 2021 to $46.58 billion. 

The year-over-year appreciation of existing property, including residential, commercial, land improvements and more, was 1.6% in Collin County and 3.9% in Denton County. 

The year-over-year appreciation of just homestead value, or single-family residential homes, was 5.8% in Collin County and 6.1% in Denton County. As a result of rising values, the tax bill for the average Frisco ISD homeowner will increase $132 from 2020 to 2021. 

Frisco ISD’s tax rate has decreased a total of more than 17 cents since 2018, the year Frisco ISD voters passed a tax swap to increase funding for District operations. The owner of the average Frisco ISD home in 2018 has seen their tax bill decrease $237.80 in that time despite an increase in appraised values. 

In 2021-22, property taxes will support new investments in personnel and competitive salaries for staff as FISD continues to grow. Learn more about the District budget approved in June

View the Board presentation on the tax rate adoption. For more information on school finance in Texas and how much funding Frisco ISD is entitled to receive, please visit our School Finance website.

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