The Woodlands Township met for the first day of its fiscal year 2027 budget workshops on Aug. 17, identifying a total of $184.6 million in revenue, a $17 million decrease from the FY 2026 budget. The township's fiscal year runs from January to December. Township President and CEO Monique Sharp said the reason for the 8.4% decrease is because of grants received in 2026 for transportation capital projects which have now been completed.
The breakdown
Sharp outlined the township financials for 2026 and the preliminary budget for 2027 in her presentation. According to the taxpayer impact statement, the tax rate adopted in 2025 for FY 2026 as well as median homestead value and tax were:
- $0.1714 total tax rate per $100 valuation
- $485,695 median homestead taxable value
- $832.48 tax on median homestead
The projections for the FY 2027 no-new-revenue rate are:
- $0.1654 per $100 valuation no-new-revenue tax rate
- $509,335 median homestead taxable value
- $842.44 tax on median homestead
The voter approval rate for FY 2027 is $0.1804 per $100 valuation.
The proposed tax rate for total tax rate and tax on median homestead for FY 2027 is to be determined, Sharp said.
The township has an AA+ bond rating from Standard and Poor's which is the highest it can get due to overlapping debt from the county and school districts, Sharp said. Sharp also noted convention center bonds will be fully paid off in September 2027, freeing up $2.8 million in revenue for the township.
Also of note
Revenue for FY 2027 is projected to be over $184.6 million with the largest portion made up of sales and use tax at 46%, followed by property tax at 29% and hotel tax at 6%.
Sharp said that while taxable values in the township have increased, the amount of revenue generated by them is reduced by several exemptions in place. The township has property tax exemptions in place for seniors age 65 older and disabled persons as well as a 3% homestead exemption. Together, these potentially lower the taxable values in the township in FY 2027 by $1.1 billion and produce $1.9 million less revenue than would otherwise be generated.
What else?
The next budget workshop meeting will continue throughout the week at The Woodlands Township. The agenda can be found on the township’s website.
