McKinney Independent School District officials are asking voters to approve a half-billion dollars in new property tax-backed bond debt and an increase in taxes used to fund operating expenses.
School board trustees unanimously approved placing five propositions on the November 3 ballot.
Prop A asks voters to ratify a property tax rate of $1.0664, which includes $0.7464 to pay for maintenance and operating expenses and $0.32 to repay debt.
The proposed rate exceeds the voter-approval rate of $1.0347, so adoption of the higher rate requires a tax ratification election.
McKinney ISD’s maximum M&O rate for this year was compressed by the state to $0.7147; the district’s proposed rate takes back about 3 cents of the intended property tax relief.
The district states that at the proposed rate, the average McKinney ISD homeowner with a taxable value of $415,000 would pay $132 less in school property taxes ($4,433 versus $4,565) compared to last year’s rate of $1.10, while taxes on a median-valued homestead of $368,000 would be $302 less ($3,925 versus $4,227).
However, if Prop A fails, property owners will pay the lower voter approval rate, not last year’s higher rate.
If voters approve Prop A, McKinney ISD estimates it will collect an additional $9.1 million in M&O tax revenue in the 2026-27 school year and keep an estimated $4.1 million annually after recapture.
Superintendent Shawn Pratt said the added tax revenue is needed to help offset a $6 million budget shortfall that remains after the district reduced a $23 million deficit through cuts and efficiencies.
Propositions B through E are for bonds totaling $500 million. With interest, the 20-year bonds will cost local property taxpayers $630 million, according to the district’s voter information documents:
Prop B: $431 million ($541 million with interest) for school renovations, two new elementary schools, a career and technical education facility to be shared with Collin College, safety upgrades, buses and district vehicles.
Prop C: $62 million ($78.5 million with interest) for network equipment and student computers.
Prop D: $4.5 million ($7.1 million with interest) for repairs to McKinney High School’s training pool.
Prop E: $2.5 million ($3.7 million with interest) for turf and track replacements at stadiums.
Due to the tax impact of issuing bonds, each ballot proposition states “THIS IS A PROPERTY TAX INCREASE.”
If passed, the propositions will authorize the district to repay the bonds’ principal and interest by levying property taxes “without limit as to rate or amount.”
McKinney ISD’s current outstanding bond debt principal and interest totals $427 million.
Vote For McKinney ISD, a political action committee supporting the tax-increasing propositions, raised $43,000 as of September 30, according to its most recent campaign finance report.
Contributions include $15,000 from CIVBIC (Committee to Inform Voters on Business Issues), a Chamber of Commerce PAC; $5,000 each from potential bond project contractors Sizelove Construction, J&E Companies, H&G Systems, Core Construction Services, and Brad Chandler of Intex Electrical Contractors; $2,500 from Randall Bullock, vice president of turf vendor Hellas Construction; and $500 each from McKinney ISD trustee Amy Dankel and former trustee Stephanie O’Dell.
Stop MISD Tax Hikes, a PAC opposing Prop A, has not filed a campaign finance report.
Early voting runs through October 30. Election Day is Tuesday, November 3.
Voting information can be found on the Collin County Elections website.
