Officials say Friendswood ISD residents will pay the district’s lowest tax rate in 40 years, but they could face higher tax bills next year.
What you need to know
FISD trustees approved a tax rate of $1.04k per $100 of a home’s value at their Aug. 26 board workshop. That’s a $0.04 decrease from the 2023-24 tax rate, according to FISD documents. But it could result in the average homeowner paying as much as $180 more on their total property tax bills due to rising property values in the area.
Tax rates for local school districts are calculated as the sum of the maintenance and operations (M&O) and interest and principal (I&S) tax rates.
The M&O tax rate for FISD is $0.78690, while the I&S tax rate is $0.25310. The M&O rate decreased by $0.0084 from a year ago, while the I&S rate decreased by $0.0316, documents show.
The history of FISD’s tax rate since 1983 can be found on the district’s website.
Also to note
Despite the tax cut, rising property valuations will still mean higher taxes for the average property owner.
Those totals mean the average homeowner will pay $4,548.10 in taxes on an average home with a taxable value of $437,317, according to county documents. In comparison, last year’s tax bill was $4,364.43 for a home with a taxable value of $404,114.
According to the documents, this represents an increase in the taxable property value of $33,203, resulting in additional taxes of $183.67.
