The Collin County tax bill now includes Collin County, City of Frisco, Frisco ISD and Collin County Community College district taxes. Those property owners living in Denton County will still receive 2 statements: 1 from Denton County, which will include Lewisville ISD and 1 from Collin County, which will bill for the City of Frisco taxes due.
The state passed a tax law that allows local taxing jurisdictions the option of exempting leased vehicles if the person files an affidavit stating the vehicle was for personal use. The city did not exempt this property. The city is taxing the leasing company's business personal property. The analogy given by some of our council members was similar to Macy's inventory or the machinery and tools of a rental business. These businesses have to pay business personal property taxes on their inventory. Their taxes are recovered in the cost to rent the equipment or passed on in the cost of the merchandise being sold. The leasing company is not much different. The leased vehicles are their business personal property. The City Council last reviewed this issue in 2004 and did not indicate a desire to change the city ordinance, thereby continuing to tax these leased vehicles as business personal property of the leasing company. Not all leasing companies pass on the tax; it depends on the contract the person has signed.