THE WOODLANDS, TX – The Woodlands Township’s Board of Administrators unanimously proposed its lowest tax charge in its 12-year historical past at a 2023 Finances Workshop assembly on Wednesday, August 24, 2022.
All seven (7) Administrators voted on a proposed tax charge of $0.1875 cents per $100 of appraised worth for the 2023 fiscal 12 months. This proposed tax charge is down a full 16% from the present tax charge of $0.2231. The ultimate tax charge, which would require a vote by the Administrators, is anticipated at one other assembly in early September.
“It is a historic day in The Woodlands,” mentioned Township Chairman of the Board Gordy Bunch of the proposed tax charge. “This Board and former Boards and workers have put the Township in a superb place financially which permits us to reinforce our high-level companies and facilities that residents lately confirmed they admire within the 2022 Resident Survey whereas decreasing the tax charge to a historic low.”
The Woodlands Township lately performed its Resident Survey and achieved the best rankings ever in its biannual survey.
“In a span of six years, we have now handled many pure disasters, a world-wide pandemic, the best inflation in 50 years, but the Township is in sturdy monetary situation as a result of nice choices beneficial and made by workers and several other boards over time,” Chairman Bunch mentioned. “Our residents and companies ought to see a a lot decrease tax charge and ensuing tax evaluation discount from The Woodlands Township.”
Since 2010, The Woodlands Township’s Board of Administrators has lowered the tax charge by 55.4%.
The Woodlands Township Board was in a position to fund many new initiatives as a result of sturdy monetary insurance policies which were in place for numerous years. Funding proposed within the 2023 Township Finances consists of:
- Enhancements and additions to Fireplace Station 5 and the Emergency Coaching Middle in addition to including a brand new fireplace firm of firefighters to serve the west facet of The Woodlands.
- Including a 13th officer place to Harris County Precinct 4 (Village of Creekside Park).
- New facilities at Bear Department Park, increasing services at Texas TreeVentures, including a revenue-generating sailboat program on Lake Woodlands, and making a pathway alongside Kuykendahl.
- Enhancements to parks all through The Woodlands as recognized within the 2022 Parks and Recreation Wants Evaluation together with Alden Bridge Sports activities Park, Bear Department Sportsfields, extra tennis and pickleball courts, a brand new canine park, and extra and renovated restrooms.
The Woodlands Township’s Board of Administrators was in a position to suggest the speed and make price range choices primarily based on various income sources reminiscent of sturdy gross sales and lodge tax collections in addition to not being burdened with unfunded pension prices or excessive debt.
Debt balances have been lowered $76.8 million or 72% over the previous 10 years, and the retirement and refinancing of bonds at traditionally low charges have resulted in $12.5 million in curiosity expense financial savings.
The Board of Administrators, with workers and normal public, met three consecutive days concerning the price range between August 22-24, 2022. The conferences had been open to the general public and might be watched on-line at www.thewoodlandstownship-tx.gov/meetingvideos.