In the month of October, there was a new rate increase from Waste Connections, called a CPI adjustment and they are allowed to do these adjustments every October. The District has worked with Waste Connections at the November meeting to ensure that the adjustments do not go into effect without prior conversations with the MUD Districts so we are given ample time to notify the community. This is the first rate increase we have been from Waste Connections since their renewal of their contract.

Over the past several months the MUD Board has been working with the City of McKinney around the intersection at Laud Howell and US75 frontage road and the backup that occurs. The City of McKinney has received approval from Texas Department of Transportation to convert the eastbound Laud Howell to a dual right turn lane onto US75 frontage road. The work is set to start with temporary markings on 12/6/2022 and permanent markings will be installed shortly after when scheduling is permitted. The MUD Board and the City of McKinney will continue to monitor the situation at this intersection. We want to thank the City of McKinney for their willingness to work with the Districts on this matter.

What is a homestead exemption or adjustment on my tax bill?

In Texas, the taxable value of Homesteaded Property may only increase 10% each year. The Homestead Adjustment (shown as Homestead ADJ on the statements issued for MUD1 and MUD2) is a deduction of the assessed value above the 10% maximum taxable value that the property values may increase on a Homesteaded Property. That same amount of adjustment is shown on the Collin County Tax Assessor Collector’s (blue) statement as a Homestead Cap.

Can you explain how General Homestead works?

The General Homestead protects your assessed value from increasing by more than 10% from year to year. Any value assigned by the Central Appraisal District above the 10% increase from the prior year is adjusted off of the current year value and shown as the Homestead Adjustment (or Cap). For example, if your property had an assessed value of $500,000 in 2021 and has an assessed value of $575,000 in 2022, $25,000 of the value increase will be listed as the Homestead Adj on your statement and the assessed value of the property for the 2022 year will be $550,000 (capped at 10%).

In the Know – Parts 1-4

A resident of McKinney MUD 1 has written 4 articles describing what a Municipal Utility District (MUD) is and how they operate.

• In the Know – Segment 1 – General MUD Information
• In the Know – Segment 2 – How Do MUDs Work?
• In the Know – Segment 3 – MUD Taxes
• In the Know – Segment 4 – MUD and Developer Responsibilities

These statements are from the author, and not by the consultants for the MUD.