In Texas, a school district’s property tax rate is tied to property values—both new construction and appreciation of existing property, according to an FISD news release.
Property values within FISD boundaries have remained strong, leading to a 14.7% increase in assessed property values from 2021 to 2022. The district is lowering its tax rate to offset the burden on homeowners, according to the FISD news release.
Frisco ISD trustees adopted a total tax rate of $1.2129 per $100 valuation Aug. 8.This will still raise more taxes for its operations than last year's tax rate due to growth in property values, according to meeting documents.
“Your resolution will say that you're voting to increase the tax rate to $1.2129. That's because you're increasing it above the no-new revenue tax rate and that is a legally required language,” district staff said. “You're voting to decrease Frisco ISD’s tax rate. So it can get very confusing. But that is legal language.”
Board President René Archamboult said the district was able to lower the tax rate more than initially thought due to the value of the land.
“We’re always looking for ways to reduce the burden on homeowners who send their kiddos to Frisco ISD,” she said.
Below is a history of FISD’s total tax rate, which is composed of one rate for its operations and another for its debt services.