McKinney City Council unanimously approved a celling tax rate of $0.5156 per $100 valuation for Fiscal Year 2020-21 during its Aug. 4 meeting. The ceiling tax rate, which is required by state law, is the highest amount that can be adopted at the completion of the budget process.

“The recommended tax rate will be less than this ceiling,” McKinney’s Chief Financial Officer Mark Holloway said.

Council will hold a budget work session Aug. 14 at City Hall, 222 N. Tennessee St., McKinney. Two public hearings will be held for the tax rate and budget. The public hearings are as follows:

• Sept. 1: first public hearing on budget
• Sept. 15: second public hearing on budget, public hearing on tax rate, budget and tax rate adoption

Here is a look at the city’s property tax rate over the years: Editor's note: A previous version of this story incorrectly labeled the second public hearing for the budget. That will be held Sept. 15.