Residents/homeowners of Lexington Country in Frisco, Texas, are facing a pressing issue that demands immediate attention—unjust and disproportionate property tax increases. All homeowners are finding themselves burdened by skyrocketing property taxes, specifically in Lexington Country, that do not seem to align with the appraisal values in neighboring communities such as Richwoods. This discrepancy is causing unnecessary financial strain, and it is time for a change.

Frisco, a rapidly growing city, attracts individuals and families with its vibrant community, excellent schools, and diverse recreational amenities. However, the inconsistency in property tax appraisals poses a threat to the financial security of many residents. An analysis reveals that properties in Lexington Country are being appraised at significantly higher rates, with a 40% increase in land value compared to only 8% in Richwoods, despite similarities in housing, neighborhood value, and other relevant characteristics.

To address this disparity and bring fairness back to the property tax system, we propose several actionable steps. First, a comprehensive review of the appraisal process should be conducted to identify discrepancies and biases. The city should engage independent auditors to ensure that appraisals are fair, transparent, and consistent across all neighborhoods.  Neighborhood and housing equivalence will help eliminate inflated tax assessments.

Statistics from the Frisco Appraisal District suggest that while property values have certainly increased, the rate at which they have risen in Lexington Country far exceeds the pace in surrounding areas. This inequity disrupts the economic balance and could deter future residents from moving to or investing in the community.

It is crucial that Frisco’s leadership, including the City Council and the Appraisal Review Board, act swiftly to realign appraisal practices and ensure equity for all residents. Establishing an open forum for homeowners to voice concerns and participate in shaping policies will also foster community trust and cooperation.

The impact of unbalanced property tax appraisal practices extends beyond individual homeowners to affect the broader community, including local businesses and infrastructure development. Ensuring fair assessments is vital for the sustainable growth and prosperity of Frisco.

Join us in urging Frisco's officials to rectify this issue by signing this petition. Together, we can advocate for a fair and equitable appraisal system that respects and represents all residents of Frisco. Your support is essential for bringing about the change our community urgently needs. Sign and share to make a difference!