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. The decision would come as residents continue to contend with rising living costs.
What happened?
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.
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.
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…