Flower Mound Council Proposes 2025 Tax Rate and Homestead Exemption Increase

Flower Mound's Town Council has proposed a tax rate of 0.387277 per $100 valuation for the upcoming budget, aiming to provide significant relief to homeowners. This proposed rate is slightly lower than the current year's rate of 0.387278, and it reflects the council's commitment to maximizing the homestead exemption from 15% to 20%, the highest allowed by state law.

During the recent work session, officials clarified that the town does not control property appraisal values, which are determined by the respective appraisal districts in Denton and Tarrant Counties. The council also discussed the implications of the "no new revenue tax rate," which is set at 0.372129 per $100 valuation. This rate serves as a benchmark for comparing revenue generation from properties year-over-year.

The council's decision to maintain a maximum tax rate below 0.388067 means that no election is required for approval, streamlining the process for residents. A public hearing is scheduled for September 15 to finalize the budget.

For homeowners, the financial impact of the proposed tax rate is notable. For example, a property valued at $465,000 would incur a tax bill of just over $1,800, which could decrease by $360 due to the homestead exemption. Additionally, seniors or disabled residents could see their bills reduced by an even greater amount.

The council emphasized that the cost of town services remains low, with residents spending less than $3 a month for library services and police and fire protection. This budget aims to ensure that essential services remain accessible while providing financial relief to the community.