The budget offers just over a one-cent reduction in the city’s property tax rate
McKINNEY, TX – McKinney City Council voted to approve the Fiscal Year 2022 budget of $618 million, resulting in just over a one-cent reduction in the city’s property tax rate. The budget, which includes $171 million in the general fund, lowers the city’s property tax rate from 0.508645 to 0.497655, which means property owners will pay $0.497655 for every $100 of assessed property value.
The total budget also addresses staffing needs, with 43 additional city staff members approved to be added to the General Fund next fiscal year. This includes 13 additional staff in the Police Department, 10 in the Fire Department, six in Parks and Recreation, four in Development Services, and ten will support various city departments.
“This budget combines the efforts and input from citizens, City Council, and city staff to plan for the future while maintaining a high level of service our businesses and residents expect,” City Manager Paul Grimes said. “McKinney is continuing its strong growth trajectory, even as we continue to wrestle with the challenges of the global pandemic. We believe this budget will enable the city to balance the growing needs of the community with the equal desire to minimize the tax burden on our residents and businesses.”
For additional information on the city’s budget, visit McKinneyTexas.org/Budget