The city of Farmersville will hold a public hearing at 6 p.m. Sept. 15 to discuss a proposed property tax rate of $0.836979 per $100 of assessed valuation for the 2025 tax year.
The hearing will take place in the council chambers at Farmersville City Hall, 205 South Main Street. Residents will have an opportunity to express support for or opposition to the proposed rate.
The proposed tax rate is higher than the no-new-revenue tax rate of $0.827244 per $100, which is the rate that would generate the same amount of property tax revenue as last year from the same properties. Because the proposed rate exceeds this benchmark, the city is effectively proposing to increase property taxes for 2025.
However, the proposed rate remains below the voter-approval tax rate of $0.838986 per $100. This means the city is not required to hold an election to adopt the rate, though public input will still be accepted at the hearing.
The new rate would represent a 23.67% increase over last year’s rate of $0.676773. The average taxable value of a homestead in Farmersville has also increased slightly, from $248,671 to $250,653. As a result, the average tax bill would rise from $1,682.94 in 2024 to $2,097.91 in 2025—an increase of $414.97, or 24.66%.
The total tax levy on all properties is projected to increase 3.22%, from $2,268,740 in 2024 to $2,341,701 in 2025.
Council members Coleman Strickland (Place 1), Kristi Mondy (Place 3), Mike Henry (Place 4) and Tonya Fox (Place 5) voted in favor of the proposal. Mayor Craig Overstreet was present but did not vote. Council member Russell Chandler (Place 2) was absent.
Residents seeking additional information or assistance with tax calculations may contact the Collin County Tax Assessor at 972-547-5020 or [email protected]. Information is also available at farmersvilletx.com or by visiting Texas.gov/PropertyTaxes for property-specific data.
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