The Woodlands Township Board of Directors has proposed a property tax rate of 29.4 cents per $100 valuation for 2014, the fourth consecutive year the township has proposed a property tax rate decrease.
“When other cities and communities are struggling with taxes, jobs, pension plan funding and service delivery, The Woodlands Township has established itself as a model for future government operations and financial efficiency,” said Township Chairman Bruce Tough in a press release. “The Woodlands Township is pleased to have established a property tax rate of 29.4 cents which represents a 2.33 cents, or 7.3 percent, decrease from the current year rate while maintaining a high level of quality services for our 110,000 residents and approximately 2,000 businesses.”
Township Board Member Mike Bass commended the board and staff for not only decreasing the property tax rate, but making other significant strides. Bass said the budget will pay off the $14.3 million remaining from the 2010 regional participation bonds that were taken out for initial payments to Conroe and Houston to defer annexation.
The proposed budget includes $1.8 million to provide local matching funds for any projects that come from the two ongoing south Montgomery County mobility studies, Bass said. Another $3.5 million was allocated for a capital replacement fund to help refurbish the more than $200 million in township amenities, he said, and 75 percent of any budget surplus will go to the capital replacement fund.
Bass said the capital replacement fund is planned to total $5.25 million by the end of the 2014 fiscal year, including the surplus of revenue over expenditures planned for the fiscal year.
“I would like to personally commend Chairman Bruce Tough, President Don Norrell and The township’s management team, especially Monique Sharp, and their staff for the leadership and effort in developing this budget,” Bass said. “I believe this budget is an historic milestone in our evolution.”
The budget also contains funding for five staff members should the township decide to provide its own 9-1-1 center, Bass said, which an ongoing study. Additionally, he said the budget adds six staff members to covenants enforcement due to issues with property maintenance, rental properties and absentee homeowners.
The Woodlands Township Board of Directors will vote on whether to approve the proposed budget and tax rate at the Aug. 22 meeting. For more information on the budget, go to www.thewoodlandstownship-tx.gov.