A potential 2028 bond has been pushed back to 2029 or 2030 to align with the expiration of the Tax Increment Reinvestment Zone 2. This move will free up enough financial capacity to pay for the new debt without instantly raising property taxes, Pearland City Manager Trent Epperson said.
What you need to know
TIRZ 2 is a financial district within Shadow Creek Ranch. As property values inside this zone increase, the "incremental" tax revenue generated from that growth is captured and kept within the zone's fund, rather than going toward the city's general bond debt, according to city documents.
TIRZ 2 is scheduled to expire at the end of 2028, Epperson said. When this happens, all of that captured property value is released back onto the city’s general tax rolls for fiscal year 2029-30.
