Board of Directors Budget Workshop
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Receive, consider and act upon dates and times for two public hearings on the proposed 2018 property tax rate, if necessary;
At the conclusion of the budget workshops, the Board will vote on a proposed 2018 property tax rate for the 2019 budget. The action on the proposed rate is not the formal adoption of the tax rate, but it does determine if two public hearings on the proposed tax rate are necessary.
If the proposed rate is set at or below the effective tax rate of $0.2273, public hearings will not be required. If the proposed rate is approved at a level higher than the effective tax rate, two public hearings, at least three days apart, are required per truth-in-taxation regulations.
Although the Board previously approved August 29, 2018 and September 5, 2018 for the two public hearings on the proposed tax rate in the event they are necessary, truth-in-taxation regulations require that the public hearing dates and times be voted on as a separate agenda item once the proposed tax rate is determined by the Board. The purpose of this agenda item is to satisfy that requirement.
As a reminder, a special Board meeting to adopt the 2018 property tax rate and 2019 budget is scheduled for September 12, 2018, at 6:00 p.m. at the office of The Woodlands Township. However, if public hearings are not necessary due to Board approval of a proposed tax rate at or below the effective tax rate of $0.2273, the 2018 tax rate and the 2019 budget may be adopted at the regular Board meeting on August 22, 2018.
This agenda item is included on the agendas for the August 14, August 15, August 16 and August 17 budget workshop meetings to provide the Board flexibility during the budget process regarding the approval of dates and times for public hearings should they become necessary based on the proposed tax rate.
If public hearings on the proposed tax rate are necessary, authorize Public Hearing #1 for Wednesday, August 29, 2018 at 6:00 p.m. at the office of The Woodlands Township and Public Hearing #2 for Wednesday, September 5, 2018 at 6:00 p.m. at the office of The Woodlands Township.
If public hearings on the proposed tax rate are not necessary, no action is required.
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