Flower Mound proposes reduced property tax rate for fiscal year 2021-22

According to the proposed budget, the town would earn 3.05% less in property tax revenues compared with this year’s budget.

In addition, the town’s homestead exemption is proposed to increase from 2.5% to 5%.

Flower Mound community members could see small increases in storm water rates and water and sewage fees. The budget includes a 3.13% increase in storm water rates and a 1.7% increase for water services, according to the presentation.

According to Wallace, the average Flower Mound household currently pays $153 for water services per month.

Short- and long-term fiscal responsibility was a major talking point among the Town Council, financial staff and representatives of city services during the meeting.

Mayor Pro Tem Ben Bumgarner raised issues with a few potential purchases of less than $50,000 apiece, including police security funding and a new snowplow. Town staff explained the need.

According to Wallace, 34.1% of the upcoming budget is earmarked toward the town’s reserve fund. The Town Charter requires at least 20% of revenue go toward the reserve fund on a year-by-year basis.

To read the proposed budget, click here.