News Flash


Posted on: June 22, 2023

Frisco raises residential Homestead Exemption for second consecutive year

(June 22, 2023) All Frisco homeowners (with homestead status) are getting a bigger break on their property tax bill.  This week, the Frisco City Council unanimously voted to raise the residential homestead exemption to 15% -- up from 12.5%.  Residents older than 65 also benefit from a ‘senior tax freeze’, approved last year.  

“The corporate incentives our city offers must lead to these homestead exemptions, otherwise the whole thing doesn’t work,” said John Keating, Mayor Pro Tem. “We’re going to do the best work we can for our homeowners first through our homestead exemptions.” 

The council adopted its first homestead exemption of 7.5% in 2017.  The following year, city council leaders raised the homestead exemption to 10%.  Last year, council raised the homestead exemption to 12.5% and implemented the ‘senior tax freeze’.    

Staff noted preliminary totals from Collin and Denton County Appraisal Districts show the city’s  ‘total net taxable value’ has increased by approximately 12%.   

“Raising the homestead exemption to 15% translates to $3 million in savings to homeowners,” said Jenny Hundt, Director of Budget & Strategic Planning. 

The higher homestead exemption will be effective for the January 1, 2023 valuation and will change the taxes due for fiscal year 2024.  

Homeowners must have ‘homestead’ status to receive the exemption benefit. To qualify, you must: 

  • Own the property on January 1;
  • Occupy property as principal residence on January 1; 
  • Have not claimed a residential homestead exemption (neither you nor spouse) on any other property.  

Homeowners who have ‘homestead’ status with their school district will automatically receive the city benefit. For more information, find the Collin County Appraisal District at . In Denton County, go to .  

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