Flower Mound residents likely to see property tax rate decrease for upcoming year

town council
The Flower Mound Town Council discussed the upcoming 2021-22 budget as part of its strategic planning session July 15. (Screenshot courtesy town of Flower Mound)

The Flower Mound Town Council discussed the upcoming 2021-22 budget as part of its strategic planning session July 15. (Screenshot courtesy town of Flower Mound)

Town of Flower Mound officials are waiting for certified property values from the Denton Central Appraisal District due by the end of the month to help firm up revenue for the fiscal year 2021-22 budget.

"With valuations coming in so high, we know there will have to be a tax [rate] decrease," interim Town Manager Debra Wallace told the council at a strategic planning session July 15.

She referenced a state law that requires municipalities to limit property tax revenue growth from year to year unless they get approval from voters to collect a higher amount.

The town's property tax rate is currently $0.4365 per $100 valuation.

Flower Mound homeowners will also get an extra tax break in the coming year with the Town Council's vote in June to double the homestead exemption to 5%.


Some good news on the budget front, according to Wallace, is that sales tax revenue for the current fiscal year are about 5% higher than what was budgeted. Officials had budgeted last summer for no increase in sales tax revenue because of the uncertainty surrounding the COVID-19 pandemic.

Wallace said the proposed budget will also include the equivalent of 19.75 new positions, 13.75 through the general fund and six through the water fund. Six of those new positions in the general fund will be added to the fire department, and four are proposed for the police department, Wallace said.

The budget will also include proposed pay raises for employees. Wallace said the goal is to help the town stay competitive not only with other local governments but also with the private sector.

Wallace also reviewed several information technology projects that could be included in the upcoming budget to improve efficiencies and productivity.

The council will have a budget work session Aug. 19. A public hearing on the budget is set for Aug. 23, and a vote on the tax rate and adoption of the budget will be Sept. 23.
By Valerie Wigglesworth
Valerie has been a journalist for more than 30 years. She is currently managing editor for DFW Metro for Community Impact Newspaper.


MOST RECENT

Taco Ocho is now open in McKinney. (Courtesy Taco Ocho)
Taco Ocho opens in McKinney; Hoff's Steaks & Steins coming to Frisco and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area, including Tornado Terry's celebrating 30 years of games in Fort Worth.

restaurant and bar area
4Thirteen Kitchen & Sports Lounge with live music venue coming soon to Lewisville

The restaurant and bar will offer an in-house branded kitchen, sports lounge and live music venue.

Q&A: Greg Smith, executive director of Fast Growth School Coalition

Greg Smith is the former superintendent of Clear Creek ISD and became executive director of Fast Growth School Coalition in December 2020. 

boad meeting
Lewisville ISD facing higher costs, limited supplies in construction projects

The higher costs and materials shortages are part of a trend nationwide in the construction industry, according to discussions.

apartments
Lewisville could partner with Denton Housing Authority to redevelop Oak Tree Village Apartments

Redevelopment of the apartments through the partnership would ensure rental rates remain below market level, according to discussions.

Stumpy's Hatchet House offers ax throwing for groups of any size. (Courtesy Stumpy's Hatchet House)
Ax-throwing venue comes to Frisco; Plano ISD to offer back-to-school fair and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area, including an Aug. 3 event Plano ISD is hosting to give away backpacks.

food
Mediterranean restaurant Cava now open in Flower Mound

Cava specializes in build-your-own bowls and sells spreads, dips and sauces.

student writing on paper
Texas Legislature allows parents to opt for students to repeat grade levels or courses

Senate Bill 1697 is effective for the 2021-22 school year.

Oni Ramen plans to open a location in Richardson's CityLine development later this year. (Courtesy Adobe Stock)
Oni Ramen coming to Richardson; American-Italian restaurant Sfereco set to open in Lewisville and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area, including a new bakery coming to McKinney.

meatball sandwich
Sfereco set to bring 'Spaghetti Western' inspired dishes to Old Town Lewisville

American-Italian restaurant Sfereco is scheduled to open Aug. 9 in Lewisville.