The proposed tax rate for the 2018-19 fiscal year will lower the existing rate of 23 cents per $100 of home valuation to the 2018 effective rate of 22.73 cents, or the rate which will provide the same level of property tax revenue as the previous year.
The property tax value in The Woodlands has been 23 cents per $100 home valuation since 2015.
The board is expected to approve a number of capital improvement projects and expenditures:
- A compensation study for township staff members
- New technology for digitizing property records and providing closed captioning for township board meeting videos
- Two new tennis courts and a basketball court cover for Bear Branch Park
- A squad truck for The Woodlands Fire Department
Additionally, the board allocated funding from the undesignated reserve to put toward future projects:
- $10.5 million is proposed for the incorporation reserve
- $1 million is proposed for a cultural arts center project reserve
- $500,000 is proposed for the bond redemption reserve
Several community organizations also made funding requests to the board during the budget workshops Tuesday and Wednesday:
- The Glade Arts Foundation requested $160,000 for education programing and fine arts classes as well as foundation funding for international performers and exhibits.
- The Texas Autism Academy requested $10,000 for scholarship funding, operations and future growth.
- Inspire Film Festival requested $50,000 for three consecutive years.
- The Woodlands Arts Council requested $60,000 in funding for future projects and to support the annual arts festival.
- The Woodlands Children's Museum requested $75,000 to build a international market exhibit for the museum.
- Senior Rides requested $75,000 on top of an existing $55,000 contribution from the township for bus services for senior citizens.
The Woodlands Township board of directors is expected to vote on this year's budget next week during its Aug. 24 meeting. Public hearings on the new tax rate are not required as the proposed rate is not higher than the effective rate.