Government
BY DON MUNSCH
Furst Ranch project begins development A more than 1,000-acre mixed-use devel- opment has started in Flower Mound. Developers have acquired the initial 90 acres of the Furst Ranch project, located near US 377 and Cross Timbers Road, per a news release. Hines, a Houston-based real estate invest- ment manager, is developing the community along with Trez Capital and the Furst family. Developers will purchase the other 948 acres in the next six years, the release states. Homes are expected to be priced from $800,000 to over $2.5 million. In addition to residential areas, Furst Ranch may include senior living, retail and more. “We’re looking at late 2026 or even 2027 before home construction begins,” Furst Ranch stated on its Facebook page, adding that the buildout timeline is 10-12 years.
Tax rate history While property values have increased across North Texas, the property tax rates for Argyle, Flower Mound and Highland Village residents have declined in recent years.
Argyle
Flower Mound
Highland Village
SOURCE: DENTON COUNTY APPRAISAL DISTRICT/COMMUNITY IMPACT
Flower Mound officials propose lowering tax rate Flower Mound residents could see a slightly lower property tax rate in the next fiscal year. The FY 2024-25 tax rate and budget are both set to be adopted Sept. 16. Public hearings will be held that same date. Zooming in per $100 valuation, down from last year’s $0.3873. In the FY 2024-25 budget, the proposed reve- nues are expected to be $273.8 million. The total expenditures are estimated at $352 million.
Officials said the $79 million shortfall is because of $75 million from prior authorized projects and $4 million in one-time expenditures. Officials said the budget includes an employee compensation plan, capital improvements, and maintaining infrastructure, facilities and parks.
The proposed budget includes increasing the homestead exemption from 12.5% to 15% and lowering the town’s property tax rate to $0.387278
September 12, 13, 14 & 15 Grapevine, Texas
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