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McKinney City Council approves FY2025 budget with reduced property tax rate

Local Government

By Collin Times | Sep 5, 2024

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George Fuller Mayor at City of McKinney | Facebook Website

The McKinney City Council has approved an $888 million budget for the Fiscal Year 2025. The new budget, which runs from October 1, 2024, to September 30, 2025, includes a reduction in the city’s property tax rate from 0.427513 to 0.415513. This change means that property owners will now pay $0.415513 per $100 of assessed property value.

A significant portion of the budget, amounting to $333.6 million, is allocated for capital improvement projects aimed at future development. In response to staffing needs, the council has approved adding 39 new positions across various city departments. This includes ten new staff members in the Police Department and eleven in the Fire Department.

City Manager Paul Grimes emphasized the importance of community input in shaping the budget: “The budget is a reflection of the valuable input provided by our community, as well as our unwavering commitment to accountability, transparency, and engagement.” He further stated that "Our top priority is to continue providing essential services while investing in the future of our community."

For more details on McKinney's fiscal plans, residents can visit McKinneyTexas.org/Budget.

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