McKinney City Council members are expected to consider and set forth a proposal for the fiscal year 2025-26 tax rate during a regular meeting Aug. 5. If the motion is approved, council members will hold a public hearing Sept. 2 for the proposed tax rate before a record vote is taken the same day.
The details
Council members will consider proposing a total tax rate of $0.413921 per $100 valuation, according to a city document attached to the agenda. That rate is higher than FY 2025-26’s no-new-revenue tax rate of $0.398018 and lower than $0.419449, which would require voter approval.
The rate is also lower than the city’s property tax in FY 2024-25 which was approved at $0.415513 per $100 valuation. Though the tax rate could be lower, the average McKinney homeowners could still pay more in property taxes due to increasing property values.
The average taxable value in McKinney increased from $514,460 in 2024 to $552,966 in 2025, according to Collin Central Appraisal District’s 2025 certified totals. At the proposed rate, the average McKinney homeowner could pay about $2,288 to the city.
Also on the agenda
Council members will also discuss efforts to redevelop some city-owned properties in downtown McKinney during a work session that will be held at 3 p.m. Aug. 5. The properties include the former City Hall building, the city’s Development Services building and two neighboring parking lots.
City officials announced in May that redevelopment efforts would continue without Fort Worth-based M2G Ventures’ involvement. Both parties were unable to reach an agreement to redevelop the 4.75 acres.
Get involved
McKinney City Council is scheduled to meet at 3 p.m. for the work session and at 6 p.m. for the regular meeting on Aug. 5. Both meetings will take place at McKinney City Hall, located at 401 E. Virginia St.
The meetings will be livestreamed for those unable to attend in person. For more information about McKinney City Council meetings, visit www.mckinneytexas.org/1168/council-meetings.
