The Flower Mound Town Council recently unveiled a proposal for the adoption of a new, lower tax rate. Economic development continues to trudge on in Flower Mound with superior performance & has arisen this opportunity. The Council is pushing toward a new rate of $0.4390 per $100 valuation which is approximately a cent less than the current rate of $0.44971 per $100. Flower Mound’s Mayor Tom Hayden stated, “looking at our comparison communities, Flower Mound was already in the bottom third when comparing property tax rates so this is really important that we were able to lower it even further”. The Mayor was also quoted as saying, “It is really amazing to see all the great things that have happened over the past couple of years in Flower Mound such as the recent credit rating improvement to AAA by Standard & Poor’s and the creation of 1,500 jobs…We came together years ago with the common vision of growing our Town’s economy and this is the fruition of working together to accomplish this goal. We’re really starting to hit our stride and there’s even more on the way.”
The Town is required to hold two public hearings prior to final approval for the new rate & the community is urged to attend & voice their opinions. The hearings will be held on August 18th & September 2nd at Town Council with final approval pending the September 15th Town Council meetings. Upon approval, the new rate will go into effect starting October 1st of this year.
WHAT DOES THIS MEAN FOR US?
Well, nothing too drastic. The change in tax rate isn’t drastic enough to where it makes a decidable difference. but more than money, it is a great sign for our community & the strives it continues to make in a positive economic direction. Remember how Mayor Hayden said “there’s even more on the way”?, well…he’s right! With the additions of local attractions such as Lakeside DFW, featuring shops & restaurants (including a Moviehouse & Eatery which we are highly anticipating), Salata salads (gluten free I might add), Smashburger, Penn Station East Coast Subs & tons more restaurants & business’, Flower Mound’s robust list of offerings continues to grow & attract new residents. Serving as a cherry-on-top, a recent release of the 10 Safest Places in Texas (Flower Mound came in at #1!) proves the town accomplishes all this without compromising it’s values & sense of community. Just when we thought our list of reasons people may want to move here couldn’t possibly get bigger, we’re surprised yet again.
We are continually blessed to do business in such a thriving economic part of the Country!