McKinney residents to see lower city property tax rate if proposed budget passes

Proposed budget allows for just over a one-cent reduction in the city's property tax rate

McKINNEY, Texas (Aug. 9, 2024) - McKinney's City Manager proposed an $888 million total budget for Fiscal Year 2025. The budget includes $219.4 million in the general fund and would lower the city's property tax rate from 0.427513 to 0.415513. The proposed rate means property owners would pay $0.415513 for every $100 assessed property value.

McKinney residents and stakeholders are encouraged to provide feedback on the city's proposed budget at McKinneyTexas.org/Budget before the final budget is scheduled for adoption on Sept. 3. The 2025 Fiscal Year is Oct. 1 - Sept. 30, 2025.

A public hearing will occur at 6 p.m. on Sept. 3 at City Hall, 222 N. Tennessee St.