The McKinney ISD board of trustees approved a $0.098 property tax decrease for the 2021-22 school year during its Aug. 24 board meeting.
The lower tax rate is a result of the third round of the Elementary and Secondary School Emergency Relief fund, which is meant to address learning loss and costs incurred during the pandemic. MISD received about $16.5 million in federal funding.
ESSER funds were introduced through three pieces of legislation and are administered by the Texas Education Agency. The TEA used the first two rounds—distributed in March and December of last year—to replace state aid from fiscal years 2020 and 2021. The third round is the first time that MISD will receive additional funding.
While districts are required to spend at least 20% of the funds to remedy academic setbacks, the rest can be spent on other needs. ESSER III allowed MISD to lower the tax rate more than initially projected.
