1. McKinney ISD lowers tax rate for FY 2023-24 budget
Some McKinney ISD homeowners can expect an almost $700 decrease on their yearly tax bill with the district’s new tax rate.
MISD board of trustees approved the lower tax rate for fiscal year 2023-24 in a 6-1 vote Aug. 28. Trustee Chad Green voted against the resolution. The new tax rate is $1.1275 per $100 valuation according to the board’s resolution. The FY 2022-23 rate was $1.3129.
“That is an 18.5-cent reduction per $100 valuation, which should make the taxpayers very happy,” MISD Chief Financial Officer Marlene Harbeson said during the meeting.
2. Municipal bond election could be on spring 2024 ballot in McKinney
A bond election to fund municipal and infrastructure projects could be on the spring 2024 ballot in McKinney, according to information presented at a Sept. 5 McKinney City Council meeting.
City staff have identified a number of unfunded projects and estimates of the associated costs that could be considered for funding if City Council members choose to call a bond election. Some unfunded projects being considered include:
- Construction of a new municipal court facility, estimated to cost $36 million
- $68 million in public safety projects, including two new fire stations
- $190 million in major street projects and street reconstruction, and more
McKinney City Council members will nominate candidates for a bond committee to consider the potential bond election at its Sept. 19 meeting.
3. New state vape law could place McKinney ISD students in alternative school
McKinney ISD officials have updated the student code of conduct for the 2023-24 school year to comply with a new state law regarding youth vaping. MISD's board of trustees unanimously approved the updates at an Aug. 28 meeting.
House Bill 114, which will go into effect Sept. 1, requires students be placed in a district's Disciplinary Alternative Education Program if a student possesses, sells, gives, delivers or uses an e-cigarette at or within 300 feet of school property.
If a student is caught with a device, they are subject to a mandatory placement in the DAEP. If the DAEP is at capacity at the time a student is being placed for conduct related to marijuana, THC or an e-cigarette, the student will be placed in in-school suspension, also known as ISS.
4. McKinney City Council adopts reduced tax rate, $849M budget for FY 2023-24
McKinney City Council adopted its lowest tax rate in recent history and an $849 million budget at a Sept. 5 meeting.
The adopted budget includes a property tax rate of $0.427513 per $100 valuation, which is a $0.03 decrease from the previous year.
The newly adopted rate is the lowest in recent history but will still bring in more total property tax revenue than the previous year, according to the presentation. The FY 2022-23 tax rate was $0.457485 per $100 valuation.
The decreased tax rate was a result of an 11.9% increase in existing property values, growing the city’s estimated taxable value from $31.2 billion in FY 2022-23 to $35.9 billion in FY 2023-24, according to city documents.
5. Michael Kowski named McKinney Economic Development Corp. president and CEO
Michael Kowski was appointed the new president and CEO of the McKinney Economic Development Corp, according to an Aug. 29 announcement from the organization.
Kowski is the director of the McKinney Parks and Recreation Department. He brings over 16 years of experience in long-term city planning and urban development to the role, according to a news release. Kowski will begin in the new position Oct. 1.
The appointment to the position comes after former President and CEO Peter Tokar III’s resignation Aug. 16.
“I look forward to attracting new businesses and experiences to our community by showcasing our high quality of life and seizing every opportunity for our continued economic success,” Kowski said in the news release.
