The City Manager of McKinney is outlining next year's proposed city budget, including the proposed property tax rate for the city.
The McKinney City Council will hold a public hearing on both the proposed budget and tax rate on September 6th before taking a final vote.
The proposed tax rate is 45.7 cents per $100 of property value for 2022-23, compared to 49.7 cents for the current fiscal year. While that's a decrease of 4 cents, it's higher than the "no new revenue" rate of 43.3 cents.
Under the proposed property tax rate, McKinney would gain about $10.3 million in property tax revenue. About $4 million of that would be from new properties added to the tax rolls. The rest would be due to increasing property values in McKinney.
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