Local taxing entities prepare to set tax rates, adopt budgets The city of McKinney and Collin County are undergoing budget and tax rate discussions. Both plan to adopt fiscal year 2016-17 budget and tax rates in September.

McKinney is proposing to reduce its tax rate from $0.583 to $0.577 per $100 property value for FY 2016-17.

The proposed FY 2016-17 budget will raise more total property tax revenue than the FY 2015-16 budget by $9.5 million, or 10.68 percent.

According to city officials, nearly $3.25 million of that amount is tax revenue raised from new property added to the city’s tax roll this year.

McKinney will officially adopt its budget and tax rate at 6 p.m. on Sept. 20 during the regularly scheduled City Council meeting at 222 N. Tennessee St., McKinney. The tax rate will take effect Oct. 1.

The city’s proposed budget can be found online at www.mckinneytexas.org.

Collin County is proposing to keep its tax rate at $0.225 per $100 of property valuation in FY 2016-17.

County officials said the FY 2016-17 budget includes a $24.6 million increase from FY 2015-16 because of new property on the county’s tax rolls. According to county documents, the county has seen a total budget increase of 5 percent since 2010.

Collin County will officially adopt its budget and tax rate during the regularly scheduled Commissioners Court meeting at 1:30 p.m. on Sept. 19 at the Jack Hatchell Administration Building at 2300 Bloomdale Road, McKinney. The proposed budget can be seen online at www.co.collin.tx.us.