The budget allows for just over a one-cent reduction in the city’s property tax rate
McKINNEY, Texas (Aug. 16, 2021) – The McKinney City Manager proposed a $618 million total budget for Fiscal Year 2022, resulting in just over a one-cent reduction in the city’s property tax rate. The budget, which includes $171 million in the general fund, would lower the city’s property tax rate from 0.508645 to 0.497655. The proposed rate means property owners would pay $0.497655 for every $100 of assessed property value.
McKinney residents and stakeholders may view the city’s proposed budget presentation at McKinneyTexas.org/Budget and are invited to provide feedback before the final budget is scheduled for adoption on Sept. 7. Fiscal Year 2022 runs Oct. 1 – Sept. 30, 2022.
A public hearing will occur at 6 p.m. Sept. 7 at City Hall, 222 N. Tennessee St.
“This budget combines the efforts and input from citizens, City Council, and city staff to plan for the future while maintaining a high level of service our businesses and residents expect,” City Manager Paul Grimes said. “McKinney is continuing its strong growth trajectory, even as we continue to wrestle with the challenges of the global pandemic. We believe this budget will enable the city to balance the growing needs of the community with the equal desire to minimize the tax burden on our residents and businesses.”
For additional information on the city’s budget, visit McKinneyTexas.org/Budget.