Frisco City Council unanimously approved the ordinance, which will grant residents the state’s maximum homestead exemption of 20%, at a special-called meeting June 30.
The details
The general homestead exemption, which was just increased by city council, applies to all homeowners on their primary residence as long as they lived there on January 1 of the tax year.
Previously, the maximum homestead exemption in Frisco was 15%.
The city also offers an exemption of $80,000 for disabled homeowners or those 65 or older. In January 2022, Frisco officials also implemented a tax freeze for these same homeowners.
What they’re saying
Officials have worked over the years to increase the exemption to 20%, Council member Bill Woodard said at the June 30 meeting. While the increased exemption will provide more property tax relief to residents, Mayor Jeff Cheney said there is a trade-off.
“The trade-off is certainly pushing more of the [tax] burden to our businesses, our commercial tax base,” Cheney said.
But he said he was happy to see the extra relief provided to residents.
