Plano ISD trustees adopt slightly lower property tax rate

PLANO, TX – The Plano ISD board of trustees adopted a slightly lower tax rate at its Sept. 29 meeting.

The adopted rate of $1.32375 is 1.27% lower than the rate passed in fiscal year 2019-20, according to Chief Financial Officer Randy McDowell. The majority of the total will cover operational costs, such as teacher salaries and benefits, while the remainder will help pay down the district’s debts, McDowell said.

With this new rate, the average homeowner in Plano will pay $4,894 in property taxes per year, which is down from the average $5,104 paid last fiscal year, McDowell said.

Lower property tax payments are driven by two factors, including the compression of state funding due to House Bill 3 and the slight decline in appraised property value in Plano.

“Those two combined is what has decreased, for the upcoming year, the taxes on the average residence within Plano ISD,” he said.