Flower Mound increases homestead exemption for residents to 5%

The Town Council voted to increase the homestead exemption to 5% for the 2021-22 fiscal year. (Kaushiki Roy/Community Impact Newspaper)

The Town Council voted to increase the homestead exemption to 5% for the 2021-22 fiscal year. (Kaushiki Roy/Community Impact Newspaper)

The Flower Mound Town Council approved a property tax break for residents in the form of a higher homestead exemption.

The council voted 5-0 on June 21 to increase the town's homestead exemption from 2.5% to 5%. The exemption will go into effect for the 2021-22 fiscal year.

The homestead exemption applies only to a person's primary residence and does not extend to apartment dwellers or commercial property owners.

While council members agreed that the homestead exemption could be increased further, they said there were too many unresolved questions. Mayor Derek France said the council would consider another increase next year.

Interim Town Manager Debra Wallace said the town is also working on some additional tax cuts for homeowners but did not elaborate.

A homestead exemption lowers the property value used to calculate property taxes owed. In 2018, Flower Mound passed its first homestead exemption at 2.5% with a minimum exemption of $5,000 for all homeowners. Monday's vote doubles the exemption to help provide some property tax relief to homeowners.

For example, a Flower Mound resident who owns a home valued at $300,000 would pay property taxes on only $292,500 of that value under the town's 2.5% exemption. Under the 5% homestead exemption, that property value would decrease to $285,000 for calculating taxes owed to the town. The increased homestead exemption on a $300,000 home would mean nearly $33 a year less in property taxes paid to the town based on the current property tax rate.


people in a room
Lewisville ISD hosts mental health summit for Denton County leaders

LISD officials said they hope to identify opportunities to improve the mental health of youths.

pizza making
Mayors of Lewisville, Flower Mound and Highland Village compete in pizza cook-off for charity

Mayors TJ Gilmore, Derek France and Charlotte Wilcox will compete to win money for their respective charity as well as bragging rights.

The CDC reversed its masking guidance for fully vaccinated individuals in response to the transmissibility of the delta variant of COVID-19 in a press conference July 27. (Community Impact Newspaper staff)
NEW CDC GUIDANCE: All individuals should wear masks in K-12 schools, including those who are fully vaccinated

The new CDC guidance, announced July 27, also recommends people in areas with "high" or "substantial" levels of transmission wear masks regardless of vaccination status.

man at podium
Denton County director of public health reports COVID-19 cases on the rise

“We’re trending in a direction of concern,” Director of Public Health Matt Richardson told Denton County commissioners at their July 27 meeting.

Mad for Chicken opened July 23 at 216 W. Virginia St., Ste. 102, in downtown McKinney. (Courtesy Mad for Chicken)
Mad for chicken now serving McKinney; La Casita Tacos y Pupusas coming to Richardson and more DFW-area news

Mad for Chicken, a Korean-inspired restaurant, serves soy-garlic fried chicken alongside pork belly strips, salads, kimchi fries, quesadillas and more.

Carnival Custom Painting Flower Mound seeing more homeowners interested in projects

Clark Pittman is the owner of the Carnival Custom Painting Flower Mound.

Community Impact Newspaper
Ask an interior designer: Kristy Mastrandonas in Flower Mound says, 'We're bringing in more color'

Interior designer Kristy Mastrandonas talks about some of the latest trends for homeowners.

Community Impact Newspaper
Lewisville real estate broker: Home buyers need to be patient, keep eye on market

Eyad Salloum, who owns Weichert Realtors-Classic in Lewisville, talks about the housing market.

Copper Penny lounge and event venue now open at Music City Mall Lewisville

New event venue and lounge Copper Penny offers food and live music.

Zal Imports in Lewisville now selling clothing, accessories from West Africa

Zal Imports sells traditional Western African clothing and accessories at Music City Mall Lewisville.

kids sitting on floor with adult
Leap Academy is now open in Music City Mall Lewisville

The nonprofit's opening was held on June 14.