The new exemption is equal to the greater of $5,000 or 10% home valuation, according to the town. That means the owner of a $450,000 home in the town will pay about $1,640 in 2022 for town property taxes. This is about $91 less than what was paid in 2021.
Flower Mound tax funds go to town services, such as police, fire, streets, utilities, parks and recreation, and other services.
The Flower Mound tax rates do not include other municipal taxes, including Denton County and Lewisville ISD.
Residents can calculate their tax payments at www.flower-mound.com/mytaxdollars by selecting the "My Tax Dollars" calculator and entering the estimated home value.
The town of Flower Mound's property tax rate has not been set for fiscal year 2022-23, and the calculator may not be exact, according to town officials. However, Flower Mound's property tax rate is not expected to increase.