Texas Property Tax System
Local property taxes are based on the value of taxable property called ad valorem, which means
according to value in Latin. The tax is based on the 100% market value of the property. Local officials value your property, set your tax rates, and collect your taxes. State law governs the process.
How Taxes Are Determined
Property taxes are determined by:
- What a property is used for on January 1
- Market conditions at the time
- Ownership of property on that date
A tax lien attaches to property on January 1 to secure payment of taxes for the year.
About Property Taxes
Property taxes are a major funding source of local services including public schools, community health services, and city services such as fire and police protection, streets, and parks and recreation.
All property is taxable unless state or federal law exempts all or part of the value. Total exemptions may be granted for public properties or those owned by qualifying organizations such as churches, schools, or charitable organizations. Over 65, social security disability, and disabled veterans exemptions are examples of partial exceptions, which reduce the taxable value on qualifying property.
General Homestead Exemption: Available for all homeowners on their primary residence as long as they lived there on January 1 of the tax year. The City of Frisco offers a homestead exemption of 12.5% (minimum $5,000) which is evaluated annually. For current exemptions, see Collin County Central Appraisal District website.
Over-65 Disable Person Homestead Exemption: The City of Frisco offers an additional exemption of $80,000 for homeowners age 65 or older or disabled.
Over-65 or Disabled Person Freeze: Effective January 1, 2022, the City of Frisco offers a tax freeze for homeowners age 65 or over or disabled. Once frozen, unless you improve the home or move, taxes will not increase as long as you own and live in that existing residence.
**The chief appraiser is responsible for administering exemption applications. A property owner or the owner's authorized agent must file any necessary exemption form before May 1 of the tax year.
To apply for an exemption, call the Collin County Appraisal District at (469) 742-9200 or Denton County Appraisal District at (940) 349-3800. You may also download the exemption forms at the Collin County Appraisal District website or the Denton County Appraisal District website.
Tax Due Date
Property taxes become due on October 1. Taxpayers have until January 31 of the following year to pay their tax bill before taxes become delinquent. It is the responsibility of the taxpayers to seek out all tax bills due. Failure to send or receive a tax bill does not affect the validity of the tax, penalty, interest, due date, existence of a tax lien, or any procedure instituted to collect a tax.
City of Frisco residents living in Collin County receive a tax statement:
- From Collin County Tax Collector, which includes City of Frisco, Collin County, Collin County Community College District taxes and Frisco Independent School District (FISD) taxes
City of Frisco residents living in Denton County still receive 2 tax statements:
- One from the Denton County Tax Collector, which includes Lewisville ISD
- One from Collin County, which is billing for the City of Frisco taxes and Frisco ISD taxes