The Woodlands Township holds final budget workshop, approves proposed property tax rate

THE WOODLANDS, Texas – The Woodlands Township Board of Directors held its final budget workshop Thursday, August 18, 2016, at The Woodlands Township Town Hall, 2801 Technology Forest Boulevard, at 10 a.m. One of the key decisions was recommending a proposed ad valorem tax rate of 23 cents per $100 of taxable property value, which is equal to the current 2015 tax rate.

The Board approved a proposed 2016 ad valorem tax rate of 21.25 cents on each $100 of taxable property value within the Township for maintenance and operations, and a proposed 2016 ad valorem tax rate of 1.75 cents on each $100 of taxable property value within the Township for debt service. These numbers equal the total rate of 23 cents. To view the preliminary 2017 budget, please visit the Budget section of the Township website.

Per truth-in-taxation regulations, since the proposed tax rate of 23 cents is above the effective tax rate of 22 cents set by the Montgomery County Tax Assessor’s Office, The Woodlands Township is required to hold two public hearings before adopting the tax rate. These public hearings are scheduled to be held Wednesday, August 31, 2016, and Wednesday, September 7, 2016. Each will be held at 6 p.m. in the Board Chambers at The Woodlands Township Town Hall, 2801 Technology Forest Boulevard.

“I want to thank my fellow Directors and professional Township staff for their hard work and commitment in approving another exemplary budget that includes enhanced services and preparation for future growth,” said Township Chairman of the Board Dr. Ed Robb. “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.”

The Township Board will consider final action on the 2017 budget and the 2016 property tax rate at a special Board of Directors meeting Wednesday, September 14, 2016, at 6 p.m.

During the budget workshops, the Board took the following actions:

Heard public comment;

Approved proposed amendments to the 2017 Operating Budget and Five-Year Plan for The Woodlands Township, including the allocation of $2.5 million to an incorporation reserve for funding of future incorporation needs and to minimize the impact of incorporation on the tax rate. The Board also approved the allocation of $500,000 per year to be set aside for matching funds to complete projects proposed in the Pedestrian and Bicycle Master Plan. The amount of the proposed projects totals $12.1 million. In addition, up to $100,000 was set aside for funding of a consultant to assist in the grant applications for those projects in preparation for Houston-Galveston Area Council’s 2017 Transportation Improvement Program.

For more information on The Woodlands Township, please visit www.thewoodlandstownship-tx.gov, or call 281-210-3800.