Results from the May 1 general election show McKinney ISD voters have approved the district’s proposed increase to its property tax rate for maintenance and operations.
Results show 65.5% of voters were in favor of the measure and 34.5% were not.
The district will now lower the tax rate for its debt service, resulting in an overall property tax rate decrease of about $0.03.
On the ballot, voters were asked to ratify the ad valorem tax rate of $1.5064 per $100 valuation for the current school year. The ballot said this would result in an increase of 1.95% in maintenance and operations tax revenue for the district as compared to the preceding year. But officials said this language is set by state law and leaves out an important message: The district will decrease its interest and sinking tax rate by $0.05 if the measure passes. This is not on the ballot because districts do not need permission to lower their tax rate, only to increase it.
Increasing the maintenance side of the budget while decreasing its debt service side allows the district to legally max out its maintenance budget, bringing in an additional $3.1 million annually, officials said.
Results are unofficial until they are canvassed and certified by the county clerk. For the latest results on this and other races, visit communityimpact.com/voter-guide/election-results.
