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TIRZ No. 1 reports $6.5M tax increment in 2025; fund balance $28.2M with $3M restricted to transportation
Summary
Assistant Finance Director Chance Miller told the Reinvestment Zone No. 1 board the TIRZ collected $6.5 million in 2025 (a 14% increase), earned about $1.2 million in interest, and ended the year with a $28.2 million balance—roughly $3 million of which is restricted for transportation projects.
The Reinvestment Zone No. 1 board received its FY2025 annual report on Tuesday, when Chance Miller, assistant finance director, summarized revenue and balance figures for the tax increment reinvestment zone covering downtown McKinney. "We collected $6,500,000 for 2025," Miller said, characterizing the total increment as a 14% increase over the prior year. He identified sources as property and sales taxes and said interest income for the year was "a little over $1,200,000."
Miller provided additional fiscal context for the board: total increment was $6.5 million for 2025; sales tax collected within the TIRZ area was $4.4 million (a $262,000, or 6% increase over the prior year); net taxable value in the TIRZ area rose by about $126 million to roughly $918 million; and the TIRZ ended 2025 with a fund balance of $28,200,000, of which about $3,000,000 is restricted for transportation by Collin County contributions. Miller also reported the remaining debt issuance is about $15.5 million, with roughly $300,000 of principal and $676,000 of interest planned to be paid in 2026.
Board members asked how much of the fund balance was already committed to projects; Miller said the 2025 ending balance included restrictions and that projections put the 2026 year-end balance closer to $22,000,000 with about $3,000,000 still earmarked for transportation. There was no board action required on the annual report.
