Buckle up and get ready to dive into the world of Carrollton Farmers Branch ISD tax. This guide will steer you through the ins and outs of property tax rates, exemptions, payment options, and more. Hold on tight as we unlock the secrets of this tax labyrinth.
From residential to commercial properties, we’ll break down the tax rates and compare them to neighboring school districts. We’ll also uncover the exemptions and deductions available to ease the burden on your pockets.
Carrollton Farmers Branch ISD Property Tax Rates: Carrollton Farmers Branch Isd Tax
Carrollton Farmers Branch Independent School District (CFBISD) imposes property taxes to fund its educational programs and services. The current tax rates for the 2023-2024 tax year are as follows:
| Property Type | Tax Rate |
|---|---|
| Residential | $1.17 per $100 of assessed value |
| Commercial | $1.21 per $100 of assessed value |
These rates are comparable to those of other nearby school districts, as shown in the following table:
| School District | Residential Tax Rate | Commercial Tax Rate |
|---|---|---|
| Carrollton Farmers Branch ISD | $1.17 | $1.21 |
| Lewisville ISD | $1.18 | $1.22 |
| Coppell ISD | $1.16 | $1.20 |
Tax Exemptions and Deductions
CFBISD offers various tax exemptions and deductions to eligible property owners. These include:
- Homestead Exemption:A reduction in taxable value for owner-occupied homes. Eligibility requirements include being 65 years or older, disabled, or a surviving spouse of a deceased disabled veteran.
- Senior Citizen Deduction:A deduction from taxable value for homeowners 65 years or older. The deduction amount varies depending on age and income.
- Disability Deduction:A deduction from taxable value for homeowners who are disabled. The deduction amount varies depending on the severity of the disability.
- Agricultural Exemption:An exemption from property taxes for land used for agricultural purposes. Eligibility requirements include meeting certain acreage and income criteria.
To apply for any of these exemptions or deductions, property owners must submit an application to the CFBISD Tax Office.
Tax Payment Options and Deadlines
CFBISD property taxes can be paid in several ways, including:
- Online:Through the CFBISD website using a credit card or electronic check.
- Mail:By mailing a check or money order to the CFBISD Tax Office.
- In person:At the CFBISD Tax Office located at 3220 North Belt Line Road, Carrollton, TX 75006.
The property tax payment deadline is January 31st of each year. Late payments are subject to penalties and interest.
Tax Allocation and Use
CFBISD property tax revenue is allocated to various educational programs and services, including:
- Teacher salaries and benefits
- Classroom supplies and equipment
- School construction and maintenance
- Transportation services
- Special education programs
The district’s budget is developed each year to ensure that funds are used effectively and efficiently to support student learning.
Historical Tax Rate Trends, Carrollton farmers branch isd tax
CFBISD property tax rates have remained relatively stable in recent years. The following table shows the historical tax rates for residential properties:
| Tax Year | Tax Rate |
|---|---|
| 2022-2023 | $1.17 |
| 2021-2022 | $1.16 |
| 2020-2021 | $1.15 |
| 2019-2020 | $1.14 |
The district has been able to maintain stable tax rates while continuing to provide high-quality educational programs and services to its students.
Impact of Tax Rates on Property Values
Property tax rates can have a significant impact on home values. Higher tax rates can make homes less affordable and can lead to lower home values. Conversely, lower tax rates can make homes more affordable and can lead to higher home values.
In CFBISD, the property tax rates are comparable to those of other nearby school districts. This suggests that the tax rates are not having a significant impact on home values in the district.
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Closure
So, whether you’re a seasoned homeowner or a first-time buyer, this guide has got you covered. Stay tuned for payment options, deadlines, and a sneak peek into how your tax dollars are allocated. Plus, we’ll explore historical tax rate trends and their potential impact on property values.
Stay sharp, stay informed, and let’s conquer the Carrollton Farmers Branch ISD tax together!
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Question Bank
What are the current property tax rates for Carrollton Farmers Branch ISD?
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The current tax rates vary depending on the type of property and its location within the district. Contact the district’s tax office for specific rates.
What exemptions and deductions are available to property owners?
Various exemptions and deductions may be available, such as homestead exemption, senior citizen exemption, and disabled veteran exemption. Eligibility requirements and application procedures vary, so check with the district’s tax office for details.
When are property tax payments due?
Property tax payments are typically due in October and February. Late payments may incur penalties, so it’s crucial to make payments on time.
How are property tax revenues allocated within the district?
Property tax revenues are primarily used to fund educational programs and services, including teacher salaries, curriculum development, and facility maintenance.
How have property tax rates changed over time in Carrollton Farmers Branch ISD?
Property tax rates have fluctuated over the years, influenced by factors such as district needs, property values, and state legislation. Contact the district’s tax office for historical rate information.