THE WOODLANDS, TEXAS (August 5, 2015) – The Woodlands Township Board of Directors held its final budget workshop Wednesday, August 5, 2015, at The Woodlands Township Town Hall, 2801 Technology Forest Boulevard, at 8:30 a.m. One of the key decisions was recommending a reduction in the ad valorem tax rate from 25 cents (current rate) to 23 cents per $100 of taxable property value.
The Board approved a proposed 2015 ad valorem tax rate of 21.11 cents on each $100 of taxable property value within the Township for maintenance and operations, and a proposed 2015 ad valorem tax rate of 1.89 cents on each $100 of taxable property value within the Township for debt service. These numbers equal the total rate of 23 cents.
Assistant General Manager of Finance and Administration Monique Sharp presented an overview of the budget and explained how the rate has consistently decreased since the Township began collecting taxes, and how differently the Township is able to operate due to the excellent economic conditions in The Woodlands. The Township is less dependent on property taxes than most communities and benefits greatly from sales and hotel taxes, she said. To view the budget, please visit the Budget section of the Township website.
“I want to thank my fellow Directors and professional staff for their hard work and commitment in approving another exemplary budget that includes enhanced services to the residents and lowers our property tax for the sixth consecutive year,” said Township Chairman of the Board Bruce Tough. “We believe The Woodlands is the best planned and maintained community in the country, and we can accurately state that we have one of the lowest property tax rates for a community or city our size in Texas and beyond. The Woodlands Township is committed to its residents and businesses in creating a community that enhances quality of life while increasing overall value.”
Based on the approval of the Budget on Wednesday, August 5, 2015, the Budget Workshop originally scheduled for Thursday, August 6, 2015 has been cancelled.
The Township Board will consider final action on the 2016 budget and the tax rate at their regular Board of Directors meeting Wednesday, August 26, 2015, at 6 p.m.
During the budget workshops, the Board took the following actions:
• Heard public comment;
• Received a presentation from Montgomery County Assessor/Tax Collector, Tammy J. McRae, on the 2015 effective tax rate (23 cents) and rollback rate (24.64 cents);
• Approved proposed amendments to the 2016 Operating Budget and Five-Year Plan for The Woodlands Township, including the transfer of responsibility for the planning, funding and implementing of special events from The Woodlands Convention and Visitors Bureau to the Township Parks and Recreation Department beginning in January 2016. Additionally, the Board declined a proposal from the Convention and Visitors Bureau that the Township assume operations of the six Waterway Cruisers. Based on this Township Board budget action, it appears that the Waterway Cruiser operations will cease to be funded December 31, 2015, as the operations are not funded in the CVB or Township budgets.
For more information on The Woodlands Township, please visit www.thewoodlandstownship-tx.gov, or call 281-210-3800.