Board of Directors Regular Meeting Agenda


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Meeting Date: 08/22/2018  

SUBJECT MATTER:
Receive, consider, adopt and set by Order the 2018 Ad Valorem Tax Rate for Maintenance and Operations, $0.2103 per $100 of taxable value;
FISCAL IMPACT:
Projected Property Tax Revenues for Maintenance and Operations = $41,978,576 at a rate of $0.2103 per $100 of taxable value
BACKGROUND:
On August 16, 2018, the Board of Directors proposed a 2018 property tax rate for maintenance and operations equal to $0.2103 per $100 of taxable valuation.  Additionally, the Board proposed a 2018 property tax rate for debt service equal to $0.0170 per $100 of taxable valuation.  The total of these two components of the tax rate is $0.2273, which is the same rate as the effective tax rate calculated by the Montgomery County Tax Assessor-Collector.

The Woodlands Township attorney has prepared Order No. 011-18 and the related Certificate for Order for the levy of property taxes to fund maintenance and operations.  The tax rate contained in the Order is consistent with the proposed rate of $0.2103 approved by the Board of Directors on August 16, 2018 as outlined in the preceding paragraph.  The Order and accompanying Certificate for Order are attached for review.

Section 26.05 of the Tax Code requires the Board to adopt the maintenance and operations component of the tax rate separately from the debt service component.  Accordingly, the recommended Board action for this agenda item pertains only to the adoption of the maintenance and operations rate.  The debt service rate will be adopted in a separate agenda item.
RECOMMENDATION:
Adopt Order No. 011-18 levying a 2018 ad valorem tax rate of $0.2103 per $100 of taxable value for maintenance and operations.
Attachments
Certificate for Order No. 011-18 Levying Ad Valorem Taxes for Maintenance and Operations
Order No. 011-18 Levying Ad Valorem Taxes for MO


    

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