Frisco homeowners will probably see their property tax bills go up even though the city is maintaining the same property tax rate for the upcoming fiscal year.
The Frisco city council voted unanimously without comment on Tuesday to maintain the city’s property tax rate of about $0.43 per $100 of a home’s value. The council also approved a balanced budget of about $304.7 million in expenditures for the upcoming fiscal year that starts Oct. 1 and an increase in fees for water, sewer, stormwater and environmental services.
The budget includes funds for 58.5 new full-time positions to help maintain city services, including 13 new positions at the city’s police department.
Home values in Collin County, where Frisco is partially located, are rising. That means even when cities maintain — or even lower — their property tax rate, homeowners will likely see a higher number on their bill because their home’s value went up, which means their taxable value increased.
Property tax revenue in Frisco will increase by $14 million in the upcoming fiscal year according to city budget documents.
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