Township adopts 2015 budget, votes to lower tax rate

THE WOODLANDS, Texas -- The Woodlands Township Board of Directors held its regular Board of Directors meeting on Thursday, August 21, 2014, at The Woodlands Township Town Hall, 2801 Technology Forest Boulevard, at 9 a.m.

During the meeting, the Board approved the budget for fiscal year 2015 of $118.9 million. The new budget includes:

A lower property tax rate of 25 cents per $100 of taxable propery value, down 4.4 cents (15 percent) from the current tax rate of 29.4 cents per $100 of taxable propery value.

11 additional personnel to law enforcement in Montgomery and Harris counties.

Enhanced streetscape and community maintenance.

Funding to address transit services and improvements.

Appropriate reserve balances to replace aging capital, address economic opportunities, and support favorable credit agency ratings.

Reserves of $3.0 million in 2014 and an additional $3.0 million in 2015 for future debt retirement

“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 fifth consecutive year,” said Township Chairman of the Board Bruce Tough. “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 Directors voted unanimously to lower the tax rate.

In other action at the Board meeting, on the consent agenda, the Board approved:

Administrative Reports for Law Enforcement and Community Policing for August 2014;

Administrative Reports for Community Services for August 2014;

Administrative Reports for The Woodlands Fire Department for August 2014;

Two easements to Entergy Texas, Inc.;

A Debt Service Excess Tax Collections Report for the period July 1, 2013 through June 30, 2014, as certified by the Montgomery County Tax Assessor and Collector;

A 2014 - 2015 Debt Service Collection Rate Report as certified by the Montgomery County Tax Assessor and Collector; On the regular agenda, the Board:

Approved Special Event Permit Applications for the GE Run Thru the Woods, Step Out Walk to Stop Diabetes, Team RWB Veterans Day Run, Jingle Bell Run/Walk and Disco Fever 5K;

Received an update regarding traffic impacts to The Woodlands Township as a result of the San Jacinto River Authority construction plans for the Groundwater Reduction Plan;

Received an update on The Woodlands Township Transit Plan and South Montgomery County Mobility Study;

Recessed the regular meeting of the Board of Directors and conducted a public hearing regarding the proposed 2015 Consolidated Budget and proposed 2014 ad valorem tax rate for The Woodlands Township;

Reconvened the regular meeting of the Board of Directors;

Adopted The Woodlands Township 2015 Consolidated Budget;

Adopted by Order The Woodlands Township 2014 ad valorem tax rate for maintenance and operations and the 2014 ad valorem tax rate for debt service;

Deferred to November a recommendation from the Ad Hoc Transportation Committee regarding appointment of a Township Board Director to serve as a Director on The Woodlands Road Utility District No. 1 Board of Directors;

Took no action on a recommendation from the Ad Hoc Transportation Committee regarding Proposition 1;

Received an update on the September 2014 Board Retreat;

Authorized the Township's Tax Assessor/Collector and legal counsel to meet with representatives of Harris County Appraisal District relative to timing of receipt of preliminary and certified tax rolls;

Recessed to executive session. No action was taken.

The entire meeting can be watched on video at The Woodlands Township website (www.thewoodlandstownship-tx.gov). For more information on The Woodlands Township budget, please visit www.thewoodlandstownship-tx.gov/budget.