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Frisco council approves 20% homestead exemption to reduce homeowner tax burden
Summary
The Frisco City Council on June 30 approved an ordinance raising the homestead exemption to 20%, effective for the 2025 tax year, a move council members said will lower city property tax bills for homeowners while shifting more of the tax burden to commercial properties.
Frisco City Council voted unanimously June 30 to adopt an ordinance raising the city homestead exemption to 20%, a change officials said will lower the average city tax bill for qualifying homeowners and take effect for the Jan. 1, 2025 tax year.
The change, approved 6-0, came after a staff presentation showing strong property-value growth in Frisco and a discussion among council members about the mechanics of the voter-approval tax-rate rules under state law. Derek Hahn, chief financial officer for the city, told the council that “today is the last day to take action on the homestead exemption to be effective for the 01/01/2025 or fiscal year 26 tax bills.”
City staff presented updated taxable-value estimates showing roughly $900 million in additional assessed value…
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