Flower Mound Council members unanimously approved setting a public hearing on the budget and proposed tax rate, which is $0.387278 per $100 of assessed value, at the Aug. 18 meeting. Chief Financial Officer John Zagurski said the proposed tax rate is the highest the town can go, but council members can choose to adopt a lower tax rate.
The gist
The proposed tax rate for FY 25-26 is $0.387278 per $100 of assessed value, which would be the same as the current tax rate, according to the town’s website. The proposed budget includes more than $452.4 million in expenses, including funding emergency services, capital projects and repaying debt.
Under the proposed rate, the maintenance and operations, M&O, component of the tax rate is expected to be $0.334295 per $100 of assessed value. The M&O rate helps pay for general operating expenses for the town.
The tax rate also includes the interest and sinking, I&S, component, which is used to help repay debt. The proposed I&S rate is $0.052983 per $100 of assessed value.
What’s next
Council will hold a workshop meeting to go over the proposed budget Aug. 21. Separate public hearings for the budget and tax rate, in addition to adoption, are planned at the Sept. 15 meeting, according to town documents.
