5 year Incorporation Financial Model
THE WOODLANDS, TX -- Dear Woodlands Residents,
Recently, Howard Hughes hired a Houston CPA to find fault with the Township’s incorporation financial model. Here are the quiet facts.
Assistant GM and VP of Finance, Monique Sharp, presented this PowerPoint at the August 13, 2021, Township Board meeting. It should help debunk Howard Hughes’ criticism of the Township’s financial projections for the next 5 years.
COVID caused 2020 financial challenges. Fortunately, despite ongoing cases, 2021 is showing excellent economic rebound. During the height of the pandemic, the Township’s financial projections were conservative with estimated growth in sales tax of 1% and 1% increase in property taxes. Cost cutting measures were implemented.
Using 2021 mid-year data from Montgomery County and Harris County Tax Assessors offices and the Texas State Comptroller, Ms. Sharp revised her 2022 recommendations and her 5 year projections to show 2% property tax growth and 3% sales tax growth. See PowerPoint for details.
This positive data allowed the incorporation tax rate to be 22.31 cents per $100 valuation. It is the same rate as residents paid in 2020 and 2021. It is good news for property owners and businesses.
The Developer’s big blue anti- incorporation signs that loom in easements across The Woodlands are wrong. Their criticisms of Ms. Sharp’s budget projections are unfounded. If Woodlands residents vote to become a city, taxes won’t go up and government won’t grow.
The mayor and city council won’t receive a salary. Residents will gain local control of roads, thoroughfares, rights of way, speed limits, parking, land planning and development, noise and fireworks, and more. Ordinances can stop clearcutting of trees and panhandling, set stronger drainage standards, and enact a property tax freeze for seniors and disabled persons.
The city could assume the 11 Woodlands MUDs, eliminating 55 compensated MUD director positions, achieving economy of scale, and allowing a unified focus on water supply, wastewater management, flooding, and subsidence.
Something else will change. Howard Hughes will have to transfer millions of dollars in franchise fees they annually collect from utilities and cable companies to the City of The Woodlands.
VOTE FOR INCORPORATION
Help Keep The Woodlands Wonderful!
God bless Texas and the USA,
Dr. Shelley Sekula-Gibbs, M.D.
Candidate for Re-election to The Woodlands Township Board Pos. 5
Not the opinion of Township Board of Directors
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