A financial projection for fiscal year 2026-27 shows slowing growth in property tax values for homes within McKinney ISD, which could result in a larger budget shortfall for the district.
The district received preliminary property tax value estimations from the Collin Central Appraisal District, McKinney ISD’s Chief Financial Officer Marlene Harbeson said during a presentation at an April 20 meeting.
A closer look
Local property taxes are a significant source of revenue for the district, according to district documents.
The tax rate in the adopted 2025-26 budget is set at $1.1043 per $100 valuation, with the average single-family home in the district being valued at $575,734 as of a March 23 presentation, per district documents.
When predicting the district’s revenue for FY 2026-27, Harbeson predicted a 4% increase in property tax values.
“I had originally projected 4%, and it looks like it’s going to be closer to 2.75%, the lowest we’ve had in the 10 years I’ve been here,” she said.
At a March 23 meeting, McKinney ISD officials predicted a $7.5 million budget shortfall. These updated property values bring the estimated shortfall to approximately $7.6 million, per district documents.
Next steps
As soon as the district receives the certified estimates, which have already been sent via mail, the district will update its budget projections accordingly, Harbeson said.
“The other thing I do know is that all of this will change again for next month, and then it’ll change again when you come to vote on the budget in June,” she said.
Quote of note
“Thank you for constantly keeping us updated on this ever-moving target,” board President Amy Dankel said.
