Frisco property tax rate to remain unchanged for 2020-21 fiscal year

Frisco City Council intends to keep the city's current property tax rate of $0.4466 per $100 valuation steady for the upcoming 2020-21 fiscal year. (Community Impact Newspaper)
Frisco City Council intends to keep the city's current property tax rate of $0.4466 per $100 valuation steady for the upcoming 2020-21 fiscal year. (Community Impact Newspaper)

Frisco City Council intends to keep the city's current property tax rate of $0.4466 per $100 valuation steady for the upcoming 2020-21 fiscal year. (Community Impact Newspaper)

Frisco City Council plans to keep the city’s property tax rate steady going into the new fiscal year.

Council set the proposed rate during an Aug. 10 work session on the fiscal year 2020-21 budget. While the proposed tax rate of $0.4466 per $100 valuation is consistent with Frisco's 2019-20 tax rate, the city expects to raise more revenue for maintenance and operations compared with the current year.

Part of that extra revenue is due to the 1.21% increase in the average taxable value of homestead properties citywide. The city also plans to shift part of the rate from the debt service to its rate for operations. The 2019-20 budget allocates $0.291520 per $100 valuation of the tax rate to maintenance and operations with the remainder dedicated to debt service. The proposed budget would allocate $0.298973 per $100 valuation to maintenance and operations with the remainder to debt service.

The proposed tax rate for the 2020-21 fiscal year is less than the voter-approval tax rate of $0.455172 per $100 valuation and the no-new-revenue tax rate of $0.450894 per $100 valuation. The city is required by state law to list those two numbers. The voter-approval tax rate is the highest tax rate the city can adopt without holding an election to seek approval from Frisco voters. The no-new-revenue tax rate is the rate that would raise the same amount of property tax revenue for the city as the same properties in both the 2019 tax year and 2020 tax year.

Frisco Mayor Jeff Cheney said council is working to keep everyone’s taxes as low as possible.


“We know this year more than any, residents are hurting, so anything we can do to pass the most conservative budget we can is important,” Cheney said. “We do think that the budget still will provide the level of service that our residents are used to. There won’t be any change from that perspective, which is important to all of us.”

There are seven new public safety officer positions included in the proposed budget, though three will be funded by grants, Director of Finance Anita Cothran said. The fiscal year 2019-20 budget included four new public safety officer positions.

Public hearings on the proposed budget will be held during council’s regular meetings on Aug. 18 and Sept. 15. A public hearing on the proposed tax rate will also be held during the Sept. 15 meeting, and council will consider adopting the budget and tax rate during that meeting.
By William C. Wadsack
William C. Wadsack is editor of the Frisco edition of Community Impact Newspaper. He previously served as managing editor of several daily and weekly publications in North Texas and his native state of Louisiana before joining Community Impact Newspaper in 2019.


MOST RECENT

Collin College recently announced Craig Leverette will serve as the new campus provost of the school's Preston Ridge Campus in Frisco. (Courtesy Collin College)
Collin College names new provost for Frisco campus

Collin College recently appointed Craig Leverette to serve as the new campus provost of the school's Preston Ridge Campus in Frisco.

The Frisco Planning & Zoning Commission approved a site plan for city park and public trail northeast of the intersection at SH 121 and Spring Creek Parkway Oct. 27. (Site plan courtesy city of Frisco)
Frisco Planning & Zoning Commission approves site plan for city park, public trail

A city park and public trail on the west end of Frisco got their first approval from the Frisco Planning & Zoning Commission Oct. 27.

Exide Technologies’ battery recycling plant operations were located right next to Stewart Creek, as seen in this 2013 photo. All of the buildings at the site have since been taken down, but contamination of the site remains. (Courtesy Exide Technologies)
Frisco takes ownership of former Exide site, plans to resume cleanup

Frisco and its Community Development Corp. announced Oct. 27 that they had taken ownership of 102 acres where the former Exide Technologies battery recycling plant operated for decades.

Tarrant County Judge Glen Whitley announced bars, wineries and breweries could reopen at 50% capacity Oct. 14. (Sandra Sadek/Community Impact Newspaper)
Bar, winery owners in Tarrant County adapt to changing COVID-19 restrictions and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area.

The Collin College campus in Frisco has been the city's most popular site for early voting so far. (Liesbeth Powers/Community Impact Newspaper)
DATA: More than 66,000 people turn out to vote early in Frisco during first 2 weeks

The Collin College Frisco campus has been the most popular Frisco polling location with about 1,168 voters showing up each day on average.

Collin County commissioners voted to keep the COVID-19 dashboard on the county's website until the entire commissioners court could discuss its future. (Community Impact staff)
Collin County reverses decision, will keep COVID-19 dashboard active for now

Collin County’s COVID-19 dashboard will remain on the county website until commissioners discuss it further at their Nov. 2 meeting.

An estimated 3,500 trees were destroyed by last October's tornado. (Olivia Lueckemeyer/Community Impact Newspaper)
Free trees: Replace those lost in Richardson tornado and more DFW news

Read the latest business and community news from the Dallas-Fort Worth area.

Frisco confirmed the 21st and 22nd mosquito pools of the season that had tested positive for West Nile virus. (Courtesy Adobe Stock)
Frisco to spray for mosquitoes after two new pools test positive for West Nile virus

The city of Frisco will have a contractor spray for mosquitoes this weekend in two different areas on the city's northside after two pools tested positive for West Nile virus.

Frisco recently approved new incentive agreements and a master development agreement for The Gate development. (Rendering courtesy Invest Group Overseas)
Frisco to save $80M in incentives with new agreements for The Gate development

New agreements for The Gate development along the Dallas North Tollway will save Frisco nearly $80 million in incentive grants compared to previous contracts approved in 2016.

Home furnishings retailer Living Spaces has opened a store in Fort Worth and will offer a variety of designer collections, including Magnolia Home by Joanna Gaines. (Courtesy Living Spaces)
Living Spaces opens in Fort Worth and more DFW-area news

Read the latest Dallas-Fort Worth business and community news.

(Community Impact Newspaper staff)
DATA: Here are the latest real estate trends in Frisco

The number of homes listed for sale decreased in Frisco in September when compared to the same period in 2019.