The McKinney ISD Board of Trustees voted 5-1 Monday to lower the district’s combined tax rate from last year’s $1.84 to $1.517 per $100 property valuation.McKinney ISD’s maintenance and operations tax rate will decrease from last year’s $1.34 to $1.04 per $100 property valuation. The debt service tax rate will go down from last year’s 50 cents to 47.7 cents per $100 property valuation.Under the new $1.517 per $100 property valuation, the owner of a $200,000 home will pay about $3,034 to the district. Under last year’s rate of $1.84, the owner of a $200,000 home paid about $3,680 in school property taxes.Trustees Wade Johnson, Lewis Isaacks, Michael Puhl, Lynn Sperry and Judy Poe voted for the tax rate of $1.517. Maria McKinzie was not present during the meeting.Board member Mark Rude, who voted against the tax rate, proposed an amended recommendation of $1.03 for maintenance and operations instead of $1.04.“To me, it’s about principle,” Rude said. “I think we can be responsible in maintaining the fund balance without the $1.04.” The state mandates a maintenance and operations tax rate of $1 per $100 property valuation, with 4-cent discretionary increase allowed without voter approval. The debt service tax rate cannot exceed 50 cents per $100 property valuation under state law.“I want to maximize the state monies,” Crowe said.Johnson, McKinney ISD board president, said it’s to the benefit of the district to use the full 4 cents.“We received an additional $500,550 from the state,” Johnson said.Johnson said utilizing all 4 cents also helps add additional money to the fund balance and enables the district to do extra things like teacher stipends.“It’s a good idea to continue to build on the fund balance,” Johnson said. “Some things come up that’s outside of your normal budget.”McKinney ISD, as of June 30, had an ending fund balance of $15,146,317, which is nearly 43 percent of its overall budget, according to budget records.“I think of the fund balance as sort of a savings account,” said Sperry.
