{"id":407224,"date":"2026-08-15T09:10:12","date_gmt":"2026-08-15T09:10:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/407224\/"},"modified":"2026-08-15T09:10:12","modified_gmt":"2026-08-15T09:10:12","slug":"mckinney-texas-proposes-880-million-budget-nearly-1-4-property-tax-hike","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/407224\/","title":{"rendered":"McKinney, Texas, proposes $880 million budget, nearly 1.4% property tax hike"},"content":{"rendered":"

McKinney officials are proposing an $880 million city budget and a nearly 1.4% increase in the property tax rate for fiscal year 2026-27, according to Community Impact<\/a>. The decision would come as residents continue to contend with rising living costs.<\/p>\n

What happened?<\/p>\n

After city staff and council members went over the proposal during an Aug. 7 workshop, the next key date is Sept. 1, when council members are expected to take up the budget and tax rate.<\/p>\n

For the year that starts Oct. 1, 2026, and runs through Sept. 30, 2027, the FY 2026-27 plan would pay for city operations, including general services and water and wastewater. It assumes a property tax rate of $0.417876 per $100 of assessed value, compared with $0.412284 in the previous fiscal year.<\/p>\n

In the proposal, the general fund is balanced at $247.7 million on both the revenue and expense sides, which is about $15.5 million more than in the prior budget. Officials said that increase is tied to project funding as well as higher personnel and material costs.<\/p>\n

Taxable property value in McKinney is expected to increase by more than $1.5 billion in FY 2026-27. Even so, that growth would be smaller than what the city has recorded previously.<\/p>\n

Why does it matter?<\/p>\n

A tax-rate increase can raise affordability concerns in a city where housing costs have already become a major source of strain. Property taxes are part of the cost of living, and those expenses can also affect renters as landlords respond to higher costs.<\/p>\n

Even with the higher rate, the typical homeowner may pay less overall. Using a median taxable home value of $518,167, the estimated bill is about $2,165, versus $2,203 in the prior fiscal year, or roughly $38 less.<\/p>\n

Slower growth in taxable value can make it harder for a city to fund the services residents rely on without relying more heavily on the tax rate.<\/p>\n

Those decisions affect public safety response times, park maintenance, street repairs, development oversight, and investment as the city grows.<\/p>\n

What’s being done?<\/p>\n

Before the Sept. 1 council vote, city officials plan to hold a public input meeting on Aug. 18.<\/p>\n

The proposed budget sets aside money for 32 new jobs in several departments, Community Impact reported: nine in police, 10 in fire, two in parks and recreation, seven in public works, and four in development services.<\/p>\n

The new positions would add capacity for emergency response, infrastructure upkeep, and development activity as McKinney continues to expand.<\/p>\n

The full proposed budget and workshop presentation are available through the city’s website before the vote.<\/p>\n

The balancing act is becoming more difficult as growth slows.\u00a0<\/p>\n

As Assistant City Manager Trevor Minyard said<\/a>, “In the previous fiscal years, we were seeing anywhere from $3 [billion] to $4 billion of additional taxable value added to the tax roll. This year, that number is [$1.5 billion].”<\/p>\n

Get TCD’s free newsletters<\/a> for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"McKinney officials are proposing an $880 million city budget and a nearly 1.4% increase in the property tax…\n","protected":false},"author":2,"featured_media":407225,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[142490,83732,25538,142491,27,29,28],"class_list":["post-407224","post","type-post","status-publish","format-standard","has-post-thumbnail","category-texas","tag-assessed-value","tag-city-officials-plan","tag-tax-rate","tag-taxable-property-value","tag-texas","tag-texas-headlines","tag-texas-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/407224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=407224"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/407224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/407225"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=407224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=407224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=407224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}