McKinney Council passes FY2025 budget

Annual budget includes just over a one-cent reduction in the city's property tax rate

McKINNEY, Texas (Sept. 4, 2024) - McKinney City Council passed a $888 million total budget for Fiscal Year 2025. The budget includes $219.4 million in the general fund and lowered the city's property tax rate from 0.427513 to 0.415513. The new rate means property owners will pay $0.415513 for every $100 assessed property value. The 2025 Fiscal Year is Oct. 1 to Sept. 30, 2025.

The city continues to invest in the future by allocating $333.6 million for the capital improvement program. Additionally, the budget addresses staffing needs, with 39 additional city staff members approved to be added to the general fund next fiscal year. This includes 10 additional staff in the Police Department, 11 in the Fire Department, six in Development Services, three in Parks and Recreation, and nine will support various city departments.

"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.