The town of Flower Mound entered the 2023-24 Fiscal Year this week, and on Friday the town released some key points of the new budget.
Flower Mound reduced its property tax rate from $0.4050 to $0.3873, making it the lowest rate in the town’s history, according to a town news release. Additionally, Town Council voted to increase the homestead exemption from 10% to 12.5%. That means, the owner of a $450,000 home in Flower Mound will pay approximately $1,525 to the town in 2024 property taxes, which is about $115 less than what they paid in 2023. Those tax dollars go toward a variety of services, including police, parks and recreation, streets, fire and more.
For Flower Mound residents who live in Denton County, the town’s tax rate makes up less than 23% of your total tax rate. To calculate your estimated tax payment based on your property value for the 2023-24 fiscal year, visit www.flower-mound.com/mytaxdollars.
The 2023-24 budget allocates $38,296,500 for the Capital Improvement Program, which provides funding for streets, public buildings, major equipment, park updates, land, and other capital assets that are of significant value and have a useful life of twenty years or more. Some of the important CIP projects planned for this fiscal year include:
- Lakeside Parkway capacity improvements and panel replacements.
- An expansion and renovation study for the Community Activity Center.
- Improvements at Bakersfield Park, Spring Lake Park, Spring Meadow Park, and Gerault Park.
- A playground replacement at Jake’s Hilltop Park.
- Reconstruction and rehabilitation of numerous streets.
- Several water, stormwater, and wastewater projects and improvements.
To learn more, read the official budget, skim the town’s Budget-in-Brief and find property tax information, go to www.flower-mound.com/budget.
