McKINNEY, Texas (Sept. 6, 2022) – McKinney City Council voted to approve the Fiscal Year 2023 budget of $652 million, resulting in a four-cent reduction in the city’s property tax rate. The budget, which includes $190 million in the general fund, lowers the city’s property tax rate from 0.497655 to 0.457485, which means property owners will pay $0.457485 for every $100 of assessed property value.
The budget also addresses staffing needs, with 50 additional city staff members approved to be added to the general fund next fiscal year. This includes 16 additional staff in the Police Department, 11 in the Fire Department, eight in Parks and Recreation, four in Development Services, and 11 will support various city departments.
“The adopted budget represents the efforts and input from citizens, the City Council, city staff, and other stakeholders,” City Manager Paul Grimes said. “McKinney continues to find ways to balance the demands for city services and capital project investments toward our future with the economic challenges that a high inflation environment brings to our taxpayers. There is no perfect answer, but we think this budget weighs that balance fairly.”
For additional information on the city’s budget, visit www.mckinneytexas.org/budget.