During their Monday meeting, Flower Mound Town Council voted to double the existing homestead exemption. The new exemption is equal to the greater of $5,000 or 10% of value. That means, the owner of a $450,000 home in Flower Mound will pay approximately $1,640 to the Town in 2022 property taxes, about $91 less than what they paid in 2021. Those taxes are used for a variety of quality services, including police, fire, streets, utilities, parks and recreation, and much more. The chart below shows the estimated tax payment for homes of various values in Flower Mound. It does not include the tax rates of other municipalities, including Denton County and the Lewisville Independent School District (LISD). Residents will see the new 10% exemption take effect on their 2022 property tax bill.
To find your estimated tax payment for the 2022 tax year, visit www.flower-mound.com/mytaxdollars, select the My Tax Dollars calculator, and enter your estimated home value. Please note, since Flower Mound's property tax rate is not yet set for the 2022-2023 fiscal year, the calculator may not be exact. However, Flower Mound's property tax rate for the 2022-2023 fiscal year is not expected to increase. We’ll update this calculator once it’s set.