My Tax Dollars
Property tax in Texas is a locally assessed and administered tax, which means there is no state property tax. In Flower Mound, residents' property tax dollars are used for a variety of quality services from the Town, including police, fire, streets, utilities, parks and recreation, and much more. Currently the property tax rate in Flower Mound is $0.4050 per $100 valuation. Rates from other municipalities, including Denton County, Tarrant County, and Lewisville ISD, may also be added to your overall property tax rate. To see current tax rates for each municipality, please visit our Property Tax Information page.
In Texas, homestead exemptions remove part of your home's value from taxation, essentially lowering your taxes. For several years, Flower Mound Town Council has been focused on increasing homestead exemptions, and most recently, in June 2023, voted to increase the exemption to equal the greater of $5,000 or 12.5% of value. Here’s a quick history of increases since 2018:
- In 2018, the Flower Mound Town Council approved the Town's first homestead tax exemption equal to the greater of $5,000 or 2.5% of value.
- In 2021, the Town Council voted to double the exemption to equal to the greater of $5,000 or 5% of value.
- In 2022, the Town Council doubled the exemption to equal to the greater of $5,000 or 10% of value
- In 2023, the Town Council voted to again increase the exemption to equal to the greater of $5,000 or 12.5% of value.
Residents will see the new 12.5% exemption take effect on their 2023 property tax bill.
In June 2023, Town Council also increased the over-65 homestead tax exemption to $150,000 of the appraised value for married or unmarried persons age 65 and older on or before Jan. 1 of the tax year in which such exemption will be applied.
Calculate Your Taxes
Download the My Tax Dollars calculator to calculate your taxes for the 2023 tax year. To download the calculator, follow the link. Once the spreadsheet opens, in the top left corner, select File>Save As>Download a Copy. Once downloaded, you will be able to enable editing and insert your property's estimated value, as well as select the other options that apply to you. The calculator will be updated for the 2024 tax year by early August 2024. Both Tarrant County and Denton County also have calculators that you can use to estimate how much you could pay in property taxes. You can find each calculator at the links below.
Apply for the Homestead Exemption
To qualify for the general residence homestead exemption, you must have an ownership interest in the property and use the property as your principal residence. Once you receive the exemption, you do not need to reapply unless the chief appraiser sends you a new application. To apply for a homestead exemption, you must submit an Application for Residential Homestead Exemption and supporting documentation to the appraisal district where your property is located. If you live in Flower Mound, that is either the Denton County Appraisal District or the Tarrant County Appraisal District.