Board of Directors Regular Meeting Agenda


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Meeting Date: 08/26/2015  

SUBJECT MATTER:
Receive, consider, adopt and set by Order The Woodlands Township 2015 ad valorem tax rate for maintenance and operations and the 2015 ad valorem tax rate for debt service;
FISCAL IMPACT:
Projected property tax revenues for maintenance and operations = $37.9 million at rate of $0.2111 per $100 of taxable valuation. Projected property tax revenues for debt service = $3.4 million at rate of $0.0189 per $100 of taxable valuation.
BACKGROUND:
On August 5 2015, the Board of Directors proposed a 2015 property tax rate for maintenance and operations equal to $0.2111 per $100 of taxable valuation. Additionally, the Board proposed a 2015 property tax rate for debt service equal to $0.0189 per $100 of taxable valuation. The total of these two rates is $0.23, which is equal to the effective tax rate calculated by the Montgomery County Tax Assessor/Collector. The Woodlands Township attorney has prepared Order No. 012-15 and the related Certificate for Order for the levies of 2015 property taxes to fund maintenance and operations and debt service. The tax rates contained in the Order are consistent with the proposed rates approved by the Board on August 5, 2015 as outlined in the preceding paragraph. The Order and accompanying Certificate for Order are attached for review.
RECOMMENDATION:
Please note: The approval of (a) the tax rate for maintenance & operations and (b) the tax rate for debt service must be made by separate motions and votes of the Board. Approve Order No. 012-15 levying a 2015 ad valorem tax rate of $0.2111 per $100 of taxable value for maintenance and operations. Approve Order No. 012-15 levying a 2015 ad valorem tax rate of $0.0189 per $100 of taxable value for debt service.
Attachments
Order Levying Taxes (Order No. 012-15)
Order for Certificate


    

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