McKinney City Council members met today to discuss the total proposed $431,925,868 fiscal year 2017-18 budget and proposed property tax rate of $0.540199 per $100 property valuation.
The proposed property tax rate is an approximate 3 cent decrease compared to the FY 2016-17 property tax rate, which is $0.5730 per $100 property valuation.
The total proposed budget is an approximate $22.78 million increase compared to the FY 2016-17 budget, which is $409,150,657.
The total budget includes operating capital projects, component units, general fund, debt services, water and wastewater, airport, solid waste, and risk and insurance. The component units fund includes funding for the McKinney Economic Development Corporation, McKinney Community Development Corporation, McKinney Convention and Visitors Bureau and McKinney Housing Finance Corporation.
Here are interactive graphics comparing the FY 2016-17 and proposed FY 2017-18 budgets.
The first public hearing for the proposed property tax rate will be held Aug. 15, and the first public hearing for the proposed budget will be held Sept. 5. Both hearings will take place at 6 p.m. during City Council meetings located at 2300 Bloomdale Road, McKinney.
More information about the proposed budget can be found on the city's website.