On Sept. 3, 2024, the McKinney City Council approved a total budget of $888 million for the 2025 fiscal year, allowing for a property tax rate reduction. The 2025 fiscal year runs from Oct. 1, 2024, to Sept. 30, 2025.
The recently announced budget will allocate $219.4 million to the general fund and reduce the city's property tax rate from 0.427513 to 0.415513. As a result, property owners will now pay $0.415513 for every $100 of assessed property value, a $0.012 decrease from the previous year.
“The budget is a reflection of the valuable input provided by our community, as well as our unwavering commitment to accountability, transparency and engagement,” said City Manager Paul Grimes in an official statement. “Our top priority is to continue providing essential services while investing in the future of our community, as envisioned by our mayor and city council. We are confident that this budget will effectively enable us to achieve our shared goals.”
Earlier in the year, a survey asked residents for their input regarding priorities for funds. Public safety and police departments were at the top of the list, with streets and traffic following. A national airport was at the bottom of the ranking.
The city is also prioritizing future investments with $333.6 million earmarked for the capital improvement program. The budget also addresses staffing needs, with the addition of 39 new city staff positions for the upcoming fiscal year. These include 10 new positions in the McKinney Police Department, 11 in the fire department, six in development services, three in parks and recreation and nine to support various other city departments.
The city of McKinney’s Budget Department was tasked with developing and preparing the city’s annual budget to align with the goals and objectives set by the city council. The department ensures the annual budget is ready for council review and adoption each fiscal year and monitors adherence to the adopted budget throughout the year.
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