MCKINNEY (WBAP/KLIF) – The McKinney City Manager proposed a $414.5 million total budget for Fiscal Year 2019 that would result in more than a 1.5-cent reduction in the city’s property tax rate.
The budget, which includes more than $149 million in the general fund, would lower the city’s property tax rate from 0.540199 to 0.525170. The proposed rate means property owners would pay $0.525170 for every $100 of assessed property value. The rate reduction results in about $3.2 million to remain with the taxpayers.
“In a growing community like ours, there are invariably big demands – more maintenance, more roads, water and sewer lines, police, firefighters, etc. This budget recognizes the balance of investing in our growth and future and leaving the rest for the taxpayers to invest in their futures,” City Manager Paul Grimes said.
The final budget is scheduled for adoption on September 17. Fiscal Year 2019 runs October 1 – September 30, 2019. Public hearings are scheduled for 6 p.m. August 21 and September 4 at City Hall.
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