It’s common to find a home in Plano that went from $250k in taxable value to $400k, in last 10 years. That Plano homeowner now pays:
58% higher property taxes to City of Plano
Inflation over that same period was only 16%.
Cause: MOST local officials are not lowering property tax rates enough to offset higher home values -
Looks like the Plano City Council needs to significantly LOWER their property tax rate this year to the effective tax rate. That means the amount we pay to the city in 2019 is the same as last year. The city will still collect more money in 2018/19 because new properties came online.
Council is debating this topic right now, and will make the final decision in early Sept.