Frisco residents will soon see relief on their property taxes, as the Frisco City Council approved increasing the local homestead exemption to 20% — the maximum allowed by the state.
City of Frisco Chief Financial Officer Derrick Cotten said June 30 the city is projecting valuations to hit $52.4 billion in fiscal year 2026, with the average home market value jumping 2.2% to approximately $804,000. The taxable value of those homes comes in at $622,000 — a 9.2% increase from the prior year.
The approved 20% threshold reflects an exemption of $160,831, and the taxable value decreases by 3.82%. Cotten added the projected tax rate under the 20% exemption would be $0.423935 per $100 of valuation…