Harris County officials cautiously optimistic at mid-year budget review

Harris County commissioners approved the mid-year budget review Sept. 29 amid an economic climate that remains strong and steady in spite of falling oil prices.

“We’re not sure what the future [holds],” county Budget Officer Bill Jackson said. “Although our economy is diverse, it is still based on oil prices, and they continue to be low. A lot of the development on the ground right now was started years ago.”

Jackson said the county’s balance sheet is strong due to paying down existing debt and getting tax anticipation notes in order. Harris County receives the bulk of its tax revenue near the end of its fiscal year in December or January, which is why tax anticipation notes have been needed in the past. Jackson said he expects the county will not need to borrow money on tax anticipation notes during the next fiscal year.

“Our fiscal year starts March 1, so the tax anticipation notes are a mechanism given to governments to bridge that gap,” Jackson said. “We make a large payment on the last day of the year to pay that off. It’s kind of like a credit card.”

Officials continue to plan for future population growth in the county, specifically in areas such as infrastructure and the hospital district, now known as the Harris Health System.

“When we talk about the growth of Harris County, it may be growing rapidly, but unincorporated Harris County is growing even more rapidly,” County Judge Ed Emmett said.

Approximately 80,000 people move to Harris County every year, about 60 percent of whom live in unincorporated parts of the county.

“I feel like I have one foot on the brake and one on the gas because I don’t know what will happen in the future,” Jackson said. “I know demand for services is there; I know there’s demand for additional roads, bridges and infrastructure.”

The county’s overall property tax rate of $0.62998 per $100 of valuation will remain unchanged.