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THE WOODLANDS, TX -- The following is a recap of the Public Hearing on the Proposed 2024 Property Tax Rate held on September 5, 2024. The meeting agenda was posted to the Township website 72 hours in advance of the public hearing. Boardroom Briefings are distributed via email and posted to the Township website within one to two business days following each meeting.
REGULAR AGENDA
ADOPTED – 2025 Consolidated Budget
President and CEO Monique Sharp presented the 2025 consolidated budget to the Board of Directors, based on the proposed 2024 property tax rate of $0.1714 per $100 of taxable value. The presented budget not only preserves but enhances the Township’s services and amenities. Several key initiatives were also included, such as funding for enhanced park, pathway and streetscape maintenance, improvements to Township facilities, enhancements to law enforcement and support for emergency response needs. The Board unanimously adopted the 2025 consolidated budget.
PUBLIC HEARING – Proposed 2024 Property Tax Rate
After reviewing and adopting the 2025 consolidated budget, the Board recessed the regular meeting to hold a public hearing, providing an opportunity for residents to offer feedback on the proposed 2024 property tax rate. No public comments were made during the hearing.
ADOPTED – 2024 Debt Service Tax Rate
The total property tax rate consists of two components: the debt service rate and the maintenance and operations (M&O) rate, both of which must be adopted separately by the Board. The Board unanimously adopted the 2024 debt service rate of $0.0111 per $100 of taxable value.
ADOPTED – 2024 Maintenance and Operations Tax Rate
The 2024 maintenance and operations tax rate, set at $0.1603, was adopted with a five-to-one vote, with Director Dr. Shelley Sekula-Gibbs voting in opposition. When combined with the debt service tax rate, this results in a total tax rate of $0.1714 per $100 of taxable value, maintaining the same property tax rate as 2023.
APPROVED – Order Levying Taxes (Order No. 013-24)
After adopting the two components of the 2024 property tax rate as summarized above, the Board is required to pass an order to levy property taxes. The Order Levying Taxes (Order No. 0.13-24) was approved by the Board with a five-to-one vote, with Director Dr. Shelley Sekula-Gibbs voting in opposition.
