McKinney ISD adopts lower property tax rate for 2020-21 school year

The board approved its property tax rate for the 2020-21 school year at an Aug. 25 meeting. (Screenshot courtesy McKinney ISD)
The board approved its property tax rate for the 2020-21 school year at an Aug. 25 meeting. (Screenshot courtesy McKinney ISD)

The board approved its property tax rate for the 2020-21 school year at an Aug. 25 meeting. (Screenshot courtesy McKinney ISD)

McKinney ISD’s property tax rate for the 2020-21 school year will be lower following approval by the board of trustees.

The board approved a total tax rate of $1.4747 per $100 valuation for this school year at an Aug. 25 meeting. The rate is a $0.01365 decrease from the 2019-20 rate, which is due to a reduction in the maintenance and operations portion of the tax rate.

"2021 represents the first year where individual school district property value growth will determine the extent of additional compression on the M&O tax rate," said MISD Chief Financial Officer Jason Bird, referencing House Bill 3. "The faster you grow, the lower your tax rate becomes."

MISD is expecting the average property value in McKinney to increase by just under 4%, Bird said.

Bird said the tax rate decrease will result in around $48.05 in savings on the average home in McKinney.


In June, the board unanimously approved a nearly $245.3 million operating budget for the 2020-21 school year.
By Elizabeth Ucles
Elizabeth is the reporter for Community Impact Newspaper's Frisco edition. She graduated from St. Edward's University with a degree in Writing and Rhetoric with a journalism concentration and a minor in Spanish in May 2019. Elizabeth covers public and higher education, development and transportation.


MOST RECENT

Tiny Human Supply Co is now open in McKinney. (Courtesy Tiny Human Supply Co)
Idaho-based baby products business relocates to McKinney

Founded in 2018, Tiny Human Supply Co works to make clean skin care for babies, including diaper rash cream, lotion, nursing cream and more.

Residents will have until May 2023 to obtain a Real ID. (Courtesy Adobe Stock)
US Department of Homeland Security extends Real ID deadline until 2023

Drivers will have until May 2023 to get the Real ID, which will be required for adults boarding a U.S. commercial flight.

Susan Bailey was elected president of the American Medical Association in June 2020. (Courtesy American Medical Association)
'I am convinced we will beat COVID': American Medical Association President Susan Bailey discusses vaccine successes, myths, challenges

Bailey was elected president of the American Medical Association in June 2020. Much of the organization's focus during that time has been on vaccine transparency and distribution.

Frisco ISD's new protocols, which no longer make face masks a requirement, will go into effect June 1. (Courtesy Adobe Stock)
Frisco ISD to lift face mask requirement for schools starting June 1

Frisco ISD protocols for summer and fall classes will no longer require students and staff to wear face masks.

Wolford Elementary School fifth grade teacher Michele McGilvray welcomes students to her class on September 3, 2020. Next school year masks will be optional. (Courtesy McKinney ISD)
McKinney ISD to resume learning in 2021-22 with all in-person classes and optional masks

“I am encouraged by the reduction in COVID-19 cases in our community and our district, and we thank the MISD Health Services Department and the McKinney Fire Department for their tireless efforts to provide vaccinations to the McKinney community and to our staff,” Superintendent Rick McDaniel said in the letter.

(Courtesy Adobe Stock)
Agencies seeking comment to improve North Texas biking trails

The Texas Department of Transportation and the North Central Texas Council of Governments are seeking public feedback to improve biking options throughout the Dallas and Fort Worth areas.

Jason Young has opened Allstate Insurance in McKinney. (Courtesy Jason Young)
Allstate Insurance opens McKinney office on Eldorado

The insurance chain offers a variety of coverage options for home, auto, life and more.

mugshot
McKinney runoff election canceled—Beller wins District 1 seat

In a special meeting, the McKinney City Council canceled the June 5 runoff election and recognized Beller as the winner.

From left: Kathy Pollard and Michelle Morrical are the owners of Mitzi’s Sonoma. (Matt Payne/Community Impact Newspaper)
Yearslong friendship leads to fine wine, gift shop at Mitzi's Sonoma in McKinney

The business tucked just off the McKinney Square is designed to feature a homey, folksy atmosphere, where guests can stroll through, peruse and enjoy conversation with the two owners.

McKinney Mayor George Fuller has been re-elected for another term. (William C. Wadsack/Community Impact Newspaper)
Local election results, a trash pickup rate increase in McKinney and more top news from the Dallas-Forth Worth area

Read the most popular business and community news from the past week from the Dallas-Fort Worth area.