Collin Central Appraisal District Reveals Changes in Proposed Tax Rate for 2025 Budget

McKinney ISD's school board held a public hearing on August 18, 2025, to discuss the budget and tax rate for the upcoming fiscal year. Superintendent Pratt explained the necessity of revisiting the budget discussions, clarifying that the board must comply with state regulations requiring a public meeting to discuss the proposed tax rate before final adoption.

During the meeting, Pratt highlighted that the district's initial estimates for property values were lower than the certified figures received later, necessitating the adjustment of the tax rate. The maximum compressed rate, which influences the tax calculations, turned out to be higher than anticipated, leading to a revised tax rate of 0.7343 for the Maintenance and Operations (M&O) portion. This figure represents a slight decrease of 2 cents from the previous year, although it is higher than the initial projection made in June.

The superintendent reassured attendees that the overall budget adopted in June remains unchanged, with no alterations to the general operating fund or per-student allocations. The adjustments discussed were strictly related to the tax rate, which will be finalized in a later presentation.

The meeting concluded without public comments, but the board remains committed to transparency and community engagement as they finalize the budget and tax rate for the upcoming year. This process underscores the district's efforts to manage financial resources effectively while adhering to state requirements.