The majority of McKinney residents’ property taxes go to McKinney ISD. The district adopted a general fund budget of $232 million for this school year in June. The budget includes funding for staff, transportation and day-to-day operations. MISD also approved a property tax rate of $1.48835 per $100 valuation during an Aug. 27 board meeting. This is a decrease from the current tax rate of $1.59 per $100 valuation.
Residents also pay taxes to Collin College, which adopted a tax rate of $0.081222 per $100 valuation for the second year in a row during an Aug. 27 meeting.
The college set a general fund budget of $212.5 million, of which nearly $118.6 million will come from property tax revenue.
The second-biggest chunk of property taxes will go to the city. McKinney is proposing a tax rate of $0.51560 per $100 valuation—a decrease of approximately one cent from the current rate of $0.52517 per $100 valuation. The city is proposing a budget of $157.9 million for public safety, development, parks and recreation, libraries and more.
McKinney City Council will adopt its budget and tax rate Sept. 17.
Collin County proposed a tax rate decrease of nearly half a cent to $0.174951 per $100 valuation. The county has yet to present a proposed general fund budget, but discussions started in mid-August. The county will present a proposed budget during a Sept. 9 meeting, and will adopt an official tax rate and budget Sept. 16.
Cassidy Ritter contributed to this article.