Airport Economic Impact
McKinney National Airport provides services and amenities that attract businesses and jobs. It generates ad valorem tax revenue to pay for local road improvements and repair, emergency services, education and more. It benefits the community by the revenue it generates to help provide city services and education dollars. It benefits all citizens - even those who don’t fly.
An Education Resource
For example, McKinney National Airport generates taxes for education, but it also supports education in a more direct way. McKinney Independent School District (MISD) offers classes through its McKinney Aviation Academy, through which students can earn an associate’s degree by the time they graduate from high school.
Funds Raised Through Taxes Go Right Back to the Community
Business aircraft owners with aircraft based at McKinney National Airport pay ad valorem taxes to four taxing entities in McKinney and Collin County. The taxes the airport generates for MISD every year could educate 157 children at Fannie Finch Elementary School. City of McKinney tax collections could pay for eight police cruisers. Collin County taxes could pay for road repairs, and Collin College taxes could be used to pay debt service on new building construction. Every aircraft housed at McKinney National Airport generates additional tax revenue for these entities. The table below shows how the airport has benefited the McKinney community.
Cause of Annual Collection Fluctuations
According to the Collin County Appraisal District, the difference in tax values from year to year may be attributed to:
- State of the economy.
- Number and value of based aircraft on January 1 of the tax year.
- Flight time log allocations vary from year-to-year.
- Asset depreciation / appreciation.
- Tax rate fluctuations (rates are set annually by taxing entities).
- Continuous education mode, i.e., changes in individual tax status or Appraisal District’s discovery of new taxable or non-taxable assets.
|Collecting Entity||Total Collected||Average Per Year|