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Posted on: September 7, 2023

McKinney residents to see lower city property tax rate as Council passes budget

Annual budget includes a nearly three-cent reduction in the city’s property tax rate

McKINNEY, Texas (Sept. 6, 2023) – McKinney City Council passed a $849 million total budget for Fiscal Year 2024. The budget, which includes $202 million in the general fund, represents an increase of 2.34 percent above the no-new-revenue maintenance and operations rate. The new rate means property owners will pay $0.427513 for every $100 assessed property value. The 2024 Fiscal Year is Oct. 1 – Sept. 30, 2024.

“The budget is a reflection of the valuable input provided by our community, as well as our unwavering commitment to accountability, transparency, and engagement. Our top priority is to continue providing essential services while investing in the future of our community, as envisioned by our mayor and City Council,” said City Manager Paul Grimes. “We are confident that this budget will effectively enable us to achieve our shared goals.”

For additional information on the city’s budget, visit McKinneyTexas.org/Budget.

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