I live in the Frisco area, property tax rates are about 2.3%, be ready to pay to travel as the two main roads are the Dallas Tollway and the soon-to-be-tolled Hwy 121 (Theres a big debate going on right now regarding who gets to charge the rates/peak times, etc). Housing is cheap if you know where to go, my house is considered "old" and it was built in the mid 90s. Frisco is also growing like crazy (They're talking about 125,000 by 2010, right now we have about 80,000). Commute time will be a little tight if you use 121 due to the construction but once done will be very nice. If you're a minor league baseball fan (Such as myself) you'll have to check out a game at Dr. Pepper/7-Up Ballpark.
Can't tell you about the schools since we're childless, but from what I've heard they're nice. Crime-wise it's pretty good...at least from what I've heard.
Frisco also has tight restrictions on water usage, we were the first to use mandatory restrictions last summer (Stage 2) and were the first to use Stage 3 (Stage 2 - they give you two days where you're allowed to water, stage 3 it's one day a week, your trash day and Frisco has 3 employees hired fulltime whose only job it is to find violators). Kinda dumb if you ask me but they did say in 2008 they'll have new water sources so hopefully the restrictions will end.
If you have any other questions don't hesitate to ask...