Saturday is the final day to vote on the McKinney ISD’s Tax Ratification Election, and we wanted to make sure seniors over 65 are aware their taxes will not go up if the TRE passes. The McKinney ISD freezes the tax rate of homeowners when they turn 65, and their taxes remain the same regardless of fluctuations in tax rates. While voting to support the MISD’s Tax Ratification Election will not raise the taxes on the homes of our seniors (nor will it change any homeowner’s homestead exemption) keeping our school district competitive will help maintain the resale value of those homes.
“Seniors looking for homes are concerned about the schools because of resale,” said Kelly Calkins of Keller Williams Realty in McKinney. “It is important for our schools to stay competitive. If people are concerned about the price of taxes decreasing their property value, I would say, no, no, no. The decrease in the competitiveness of our schools is what is going to decrease property values. If Prosper, Allen and Frisco are better able to attract buyers, that is a problem for McKinney real estate. We have to stay competitive, which means we have to give MISD the funds to keep our schools performing as well as neighboring districts. That is why I voted for the TRE.”
If the TRE passes, MISD’s tax rate will still be lower than the average tax rate since 2002. MISD average tax rate since 2002 was $1.72, compared to $1.67 with the new TRE. In fact, MISD’s tax rate was $2.00 in both 2004 and 2005.
What is concerning for property values is the funding per student for MISD vs. our neighbors. Not only does McKinney ISD have less commercial development in its tax base, it now receives less state funding per student than most neighboring districts. This is an important factor parents and realtors will look to when searching for a home.
State Formula for Funding Per Student:
1) Blue Ridge $ 9,519
2) Prosper $ 8,878
3) Lovejoy $ 8,430
4) Community $ 8,027
5) Farmersville $ 7,834
6) Celina $ 7,827
7) McKinney (if TRE passes) $ 7,542
8) Princeton $ 7,353
9) Allen $ 7,292
10) Wylie $ 7,277
11) Anna $ 7,200
12) Frisco (current)* $ 7,104
13) Melissa $ 7,010
14) McKinney (current) $ 6,949
15) Plano (current)* $ 6,935
* Plano and Frisco are planning for TREs
Thank you to everyone who has already voted, and we encourage everyone else to go vote for the TRE Saturday from 7-7. Visit us on Facebook at Vote For MISD Kids, or the McKinney ISD website for information on voting locations for Saturday’s election.
Submitted by Cindy Evans