Frisco Residential Homestead Exemption

[Chrissy Jackson]

The city of Frisco is known for many things, mainly for being home to many of DFW’s Professional Sports Team. Not only is Frisco home to FC Dallas with Toyota Stadium, but also home to the practice facility of The Dallas Stars and The Dallas Cowboys. However, besides sports, Frisco is also well known for many another things. One of those things being the beautiful designs and architecture of the city. The houses located in Frisco range from Spanish Hacienda, to Modern, Cape Cod to many other housing thing. Each individually unique and beautiful in their own way. But, luxury and beauty do come at a cost. For Frisco home owners that comes in the form of a tax. However, the city council of Frisco in June decided on a new piece of legislation that I am sure made them Frisco very happy.

         In June of this year the Frisco city council voted to adopt a 7.5% residential homestead extension. The exemption will equal an average saving of $143.00, this is based on .45 property tax and Frisco’s average home value, of $391,923. Mayor Jeff Cheney said that this was a result of residents worrying about the rising cost of houses in Frisco. The cost of houses in Frisco is expected to raise by 9% next year. Mayor Cheney said this was the quickest way to give homeowners the most immediate tax relief. The council does have the right to vote to raise or lower the exemption annually. In order for the homeowner to receive this exception they must have homestead status by January 1, 2018

            This new legislation is a good thing for Frisco, it provides homeowners with a small relief on their taxes. Although I am not a homeowner in Frisco, just a renter, I do believe that this is good for the city of Frisco and gives a good monetary break to the home owning citizens of Frisco. 

Article Link:

http://www.friscotexas.gov/CivicAlerts.aspx?AID=318