Frisco TX Property Tax Rate
All right, tax rates in Frisco, there’s all types of bills in here and I don’t have this all perfect for you guys to see on the computer, some to hold it up here. No, we’re not going to zoom in and look at all the details in it. But what I want to talk through is some of the different numbers that go into taxes specifically for Cisco. And we can kind of talk through them and then we can look at like McKinney as well. And there’s some interesting things that I want to look at in the underlying numbers. OK, so this one right here on the hand of then that’s that can be McKinnie and I have for Cisco right here. And what we’re going to do is looking at it from I know we have two property is a lot of tax help. We get more statements now. And when I look through this, there’s quite a few details in it. So what I first want to do is break down the taxes in general. OK, so you have multiple components for them. So the first component that’s going to go into it is the city.
Ok, so we’re going to look at the city tax rate. Then there’s going to be the county tax rate then you live in. Then there’s going to be the SD or independent school district tax rate that goes into it. So that’s the third one. And then the fourth one is going to be the college if there’s one there, like a Colleen. OK, so those are the four I hit each one, right? The county city college.
There’s four components to our local tax rates. OK, so that’s it. Now I want to refresh your memory and make sure they hit some of these points that the D isn’t necessarily the same as a city. So like you could live in Frisco and go to a McKinney school. I think that’s fairly well understood. You just want to kind of cover that topic that and it could be different. Right? So the lines are not necessarily the same. And so that’s that. Yeah. And there are some counties or some cities that are in multiple counties. Right, so Chris goes to county and Collin County. Yeah, perfect. So there are some different things that are going to have to look at that. And each properties can be actually super unique and there could be one next to each other that are in different places. And that’s why a great realtor, great agent is going to totally help you out. Yeah, sure. So if I’m under if I’m uncovering some more of this stuff with taxes, then what you’re also going to have is that for each municipality, I’m going to kind of break it down and look at the lines for you so you can see that. So how about, like a thumbs up if you love supermajority topics and talking about math super early in the morning math.
Yeah, this is talk about math. You like it when I talk about math. Thumbs up and I want to talk about. No problem. All right. So in advance, before we cover in all of this stuff, Chad, in your exact tax rate at your home right now that you’re personally at, so just like Chad in your exact rate, and then we’ll compare some of those as we go on. But I know I’m currently speaking.
So first, what we’re going to go go through is the the appraised value that they that they view it as. So what they’re going to take is if we discuss that topic in general, how they find that is the readily available information that they have on your property. OK. And then they’re going to go ahead and take that and use that as your appraised value so they might know the square footage to years to value and then they’ll take and they’ll use that as your appraised value or assessed value. OK, then from there you’re going to have some exemptions that you may or may not qualify for. So different types of exemptions are going to be if it’s your homestead, you might be able to apply some money if it’s your homestead versus an investment home for a second property or a vacation or one of those things. Right. And then also underneath that, there’s going to be a couple of other items. So you could have maybe a senior discount for your age. You could have a service if you’re a military yet. So there’s there’s different ones that can be available for you as an exemption. And there’s going to be a certain amount to that. So, for example, in this scenario, it’s super easy if we just use like a round number and we always use like per thousand four hundred thousand.
So when we’re discussing about this, there’ll be a discount that will come off of that that appraised or assessed value for that. OK, then the next thing that will have is what’s the actual taxable amount that they’re going to tax you on. So what that’s going to be is the appraised or assessed value minus the exemption and then how much they’re taxing you out. OK, so now we kind of have a taxable value. Then we’re going to have something like I think it’s a millage rate in the mileage rate is a number that they’re going to take that number of the appraised or
assessed value that’s actually taxable after. Right. So there’s like a gross number at the top and then there’s kind of a net number that they’re going to tax you on. And that’s that’s that number. Then they times it by this millage rate, like that tax percentage, and then they come up with how much you’re actually being taxed in U.S. dollars. And that goes to that entity directly. And you’ll go through and add all of these numbers up. So there’s different ones, different lines in each property’s definitively unique.
But what I thought was a little bit good was to look and kind of uncover and roll back some of these data points that I see specifically on our taxes. So in my hand, again, I’m holding the fiscal ones and it’s good to kind of look at things because snapshots and reviewing them will lead you to understanding some more information about this. And it’s really interesting because you hear in the news like, oh, we need more money for our schools, we need more money for this, like this is going and maybe it’s good to talk about, like these overall numbers and you’ll see percentage change in what’s going on and like the rates. And so anyways, I’m going to uncover some different facts and then we can kind of discuss them and see how unique they are. So now we kind of came up with what we would do. But what I think is really important is the actual dollars that you get taxed at. And it’s ultimately important that you’re going to write a check at the end. So there’s a lot of facts and figures and you can make numbers up here how you want them to appear. And I’m going to have you be concerned ultimately at the end of the day with one key number.
And that’s going to be like US dollars and how much you actually write that check out for. And then we can kind of discuss that because it appears that people change these figures quite a bit to make them appear one way or the other and lead the discussion to be different. So I want to kind of applaud. Certain districts or certain municipalities and kind of what’s going on that I’ve seen, and I’m like, well, so here on there they have a five year tax look back and they’re going to have a difference between like two thousand and twenty fifteen. So if we look down here at the bottom on this, it’s going to say what it was in twenty fifteen and what it is today. OK, and then the percentage difference and they’re going to change all these things. But some of the people, some of the districts are taking and changing either the percentage or the exemption amount and you’ll hear all these different things. But like all I really care about is dollars at the end, you know what I mean? Like, you can change numbers however you want, but I will get real dollars. Yes.
So as I’m looking at this, at the end of the day, Collin College, OK, Collin College, we had an increase of 387 So Collin College, we pay them 387 dollars in 2015 and in 2020 we pay them 450 dollars. So that went up by a reasonable amount. It really did. So what they do is they change different things. That’s interesting is they change the amount. Now one that I really want to give real credit to as I’m looking down here is the county named Collin County. So Collin County should really be like praised. I don’t know what was going on, but in 2015 we paid a thousand and nine dollars to Collin County as a county. And in 2020 we only paid nine hundred and seventeen dollars.
Now we still had to pay nine hundred seventeen. But what it actually was is like 85 dollars or less. 83 dollars less than before. So how are you adjusted. And you look at the real things, there’s actual dollars going out. So we paid less to Collin College. So that’s impressive, right. Our ticket to the county I apologize county then the ISD with Frisco ISD, we paid twenty one hundred and seventy and then this year we paid twenty two fifty. So there’s very, very minor change in Frisco ISD from one year to from five years ago and they’re still making things work. So you have McKinney ISD, right?
But if you look at at our McKinney statement, it’s the exact same as 2015
Ok, so twenty fifteen for McKinney, huh? Over here, McKinney is the net number.
Well, maybe there’s something weird going on here. I’m not sure what was going on there, but what we have changed McKinney ISD is they’re changing the value of the homes. The home is worth more. And then on this statement, they’re actually going through the exemption amounts to the same values and the tax rate in McKinney. So McKinney should be looked at. And when we’re looking at McKinney, Estie, what the millage rate actually went down from one point sixty seven to one point four seven. OK, so McKinney ISD has gotten better with their money management by far in the value went up. So I think this number is actually not totally go out. And there’s some bad data in this that we’re looking at. But when we uncover the actual numbers McKinney is doing down has done a good job to manage right now. Frisco ISD, as we take a look at it, they went and their number four, the rate for Frisco ISD went from one point forty six to one point three one. So if we’re comparing just the two entities side by side, then what actually happens is, you know, that’s that’s really that’s a little unique because McKinney ISD gives it thirty five thousand dollars exemption for your for your homes as a primary residence and twenty five thousand dollars is what Frisco gives. Now, I could be looking at bad data because the gentleman who owned that McKinney property before us may have had a different exemption than he had a. Yeah. An age exemption. Yeah. So it’s possible that that number is a little bit higher for that. But what we do see is the rate in Frisco, in both McKinney and Frisco for the D has went down by like up like one point three, one point five as the total percentage and the property values have went up.
And overall, there’s been a minor change in the amount of tax that you’re actually sending in. So to fiscal D from twenty fifteen to twenty seventeen, we’re sending in five hundred dollars more on an annual basis and I would actually be interested to look at that, to see, OK, maybe I’ll do some analysis.
Well the value is higher, but they’re adjusting it. So like total dollars that are actually going to them was five hundred dollars more now than it was then. So I’d have to look at inflation and see and if it’s keeping up with inflation or what. But like that’s actually pretty good as far as management goes of what’s going on with our growth and the new schools that both districts are building here. So in real dollars, First Class D on paper, they have a lower, lower millage rate than McKinney ISD by about one point. Yeah, one point five difference point one five point one five, as you would at it across five. So for one hundred thousand dollars would be one hundred and fifty dollars a year. Difference, I believe, if my math was true, check me right now and see what we’re doing here. Right. So and then we’re taking a look at the next one would be the college. I talked about that and then the city. OK, so the city recently came in and put it in an exemption for you for your primary residence. So Fresco gave fifty-six thousand dollars exemption for this being our primary residence, that they weren’t taxing us on that amount. And then the tax rate went down just a little bit. The military and the actual dollars that we paid to Frisco, like true, true US dollars from twenty fifteen to twenty is like, I don’t know, eighty dollars more. So thinking through that, like yeah. Like they can really bend the numbers any way they want. So they’ll give you like this exemption amount and then they’ll have a tax rate in the military. But at the end of the day it’s really about the true dollars that go out because the rate that you pay.
Is one thing, but then you look at then there’s an exemption that’s not being and if you’re a member of Frisco passed the last you know, they they passed a new an additional homestead exemption of was it seventy five hundred more off your off the school, off the ISD. So, you know, I don’t know, that was really so these numbers gave us to hear that. And you think, OK, my assessed values here, all of this is coming off and it’s not actually how it is. So yeah.
So you just have to really dig into the numbers. And the number that you’re ultimately concerned with is the last number. So don’t let if somebody is telling you that there’s been a new exemption that’s applied, well, that exemption that’s being applied can be overwritten with by changing the rate and you can lower the tax rate in removing the exemption. And then you’re right that it’s really weird. So in politics, it feels really different in a lot of different ways. It’s presented differently.
If you want to make it look like this or you want to make it look like this homeowner doesn’t dive in and understand how it’s broke down. Yes, I’m sure they like kind of like super nerdy and are probably not going to remember all of this.
But the key is to go and look at the account history and just, you know, it’s interesting to see how it’s now. And, you know, this is here and then here. It’s it’s it’s up here twice.
So that’s a comparison between the different. So what you’ll see here is there’s a lot of information. And so keep that white sheet and kind of refer to it. And there’s a bunch of numbers on there. Now, the property McKinnie is in McKinney ETG, the extra territorial jurisdiction, I believe. Yeah. So with it being there, it’s actually no city tax. City taxes.
So the numbers are different so we can go through and add up all these numbers and be super nerdy about it. And I think I did somewhere, if I’m not mistaken, or maybe I did, but I put the paper somewhere else so I don’t actually have that number super handy. But at the end of the day, I am going to go through and thumbs up or thumbs down each of the different people in the last five years.
As far as how they did, in my personal opinion, this is not Shawna’s opinion. I’m making an announcement so I can say like Collin County and you can. Yeah, sure. That’s what I’d like to do it. Go ahead. So for our first go home, Sharpe Collin County, I’m going to say they actually did a pretty this is the whole county. The county is the county, the Colony County, Collin County. I’m going to say massive thumbs up because we’re paying less taxes, OK, for Collin County, even though regardless, it doesn’t matter. I mean, we’re paying less. So they get like triple thumbs up because the house value went up and we’re paying less dollars to Colin Powell, Collin County fruitfulness. So not like that. What the county went up? I don’t I don’t care. The taxes are going down like the actual numbers we’re paying. Now, I’m telling you, Collin County has done the best of any one of these entities, OK? By far like we’re paying less to them and not just. Yes, Frisco City. Frisco City. So I’m going to say they’ve done a really good job.
Our taxes went up mildly, very, very mildly in terms of real, real dollars. And I believe the difference between twenty, fifteen and now is very impressive with the amount of things and the values of what’s happened around here. Everything’s you know what I mean. Properties have been going up. Yeah. So I’m, I’m ultimately happy with OK. Yes. About the Collin College. Collin College. I think their management of their money needs to get a little bit better to the facts. I’m sorry about that. I don’t know. So they’re expanding and building and more schools. So I can’t say that it’s unwarranted. But I mean, just real dollars that we’re paying now have actually went up pretty significantly for where we’re at now. You’d say education’s important in all those different things. Right. But you have to see where it’s going now. Is there a plan that later on that number is only going to be there for a short period of time because their short term expenses, I don’t know. And they are building more campuses.
It’s valuable and it’s affordable for kids to go to school there.
I mean, it’s not even if it’s not even just kids like the whole community can go there and learn. So, you know, you can go there for real estate. You can talk about is it important to have a college or I’m just talking about the real things.
I’m not saying I don’t want my money to go to education because I do. But what I’m saying is that their current management of the money over the last five years appears that it’s headed in a direction of spending more. OK, so maybe they’re planning for the future. But yeah, the rate we’re spending more and other places have done proportionately a better job. And first. IED went up moderately, and I know they are building more schools, but it appears that the county college, the tax rate, the amount that I pay to them there increases dramatically faster than than the ISD. And then if I was looking at the other ones for a little, it’s a little I don’t have all the data because we kind of have some exemptions on there that I’m not ultimately aware of. So I don’t want to comment on those. But my order, again, is I think Collin County was the better by far. I think Frisco City is second best. But it was such a far winner with the county, the county that is not even close in my opinion. Then the ISD for first class D comes in third place, in my opinion, and then dramatically last and not even close on ours. Is that Collin College for what their tax rates currently are not going over all of the things.
I don’t know every single thing that’s in the budget and what’s happening. But that’s just my personal opinion complex for sure. It is. So you have to really dive in. Yeah. Is there anything I to say there or do you want to just say, like, hey, that’s a serious topic? It also happened to be our personal information. So I felt comfortable with sharing the millage rates in the numbers in each of those. So I hope that that worked for you.