The Woodlands 2024 Budget and Property Tax Rate

**The Woodlands Township Board Grapples with Growth, Budget, and Tax Rate for 2024**

**THE WOODLANDS, TX** – The Woodlands Township Board of Directors convened on August 17, 2023, initiating critical discussions on the proposed 2024 budget and property tax rate, with the ever-present challenge of managing community growth and escalating service demands at the forefront. The deliberations underscore a delicate balance between fiscal prudence and maintaining the high quality of life residents have come to expect.

The proposed total budget for The Woodlands Township in 2024 is set at $159.2 million. A significant portion, $75.6 million, is allocated to the General Fund, which is the financial backbone for essential community services. These include Public Safety (encompassing police and fire services through agreements with Montgomery County and The Woodlands Fire Department), Parks and Recreation, Covenant Administration (ensuring community standards), and various other Community Services that enhance daily life for residents.

Funding for these operations is projected to originate from a diverse revenue portfolio, including property taxes, sales taxes—a substantial contributor given the Township’s robust commercial sector—commercial solid waste fees, user fees from Township facilities and programs, and other facility-related revenues. This diversified approach helps to mitigate reliance solely on property taxes.

Regarding the property tax rate, the Board is considering holding the line at $0.18 per $100 of assessed property value for 2024, mirroring the 2023 rate. However, due to significant increases in property valuations across The Woodlands, maintaining this rate will result in the Township collecting more property tax revenue than in the previous year. To put this in perspective, the “no new revenue” tax rate, which would generate the same amount of property tax revenue as last year on existing properties, would be $0.1691 per $100 valuation.

For the average homeowner in The Woodlands, maintaining the $0.18 tax rate is estimated to translate to approximately $720 in Township property taxes for 2024. This represents an increase of about $36 from the prior year, driven exclusively by the upward trend in property appraisals rather than a change in the tax rate itself. It’s important to note that the Township’s property tax is one component of a resident’s overall property tax bill, which also includes levies from Montgomery County, local school districts, and utility districts.

During the meeting, Township leaders emphasized the critical need to balance fiscal responsibility with the burgeoning demand for services in a rapidly expanding community consistently ranked among the nation’s top places to live. Vice Chairman Kyle Watson articulated the core dilemma facing the Board: the choice between “tax relief or service level maintenance.” Conversely, Chairman Dr. Gordy Bunch underscored the Board’s firm commitment to sustaining the existing high-quality services that residents cherish and expect, from pristine parks to responsive public safety. The Woodlands continues to experience robust residential and commercial growth, which naturally increases the strain on existing infrastructure and services.

The proposed budget and tax rate will now proceed through a series of public hearings designed to gather community input. Residents will have opportunities to provide feedback on both the budget and tax rate on **Wednesday, August 23, 2023**. An additional public hearing specifically for the tax rate is scheduled for **Wednesday, September 6, 2023**. The Board is slated to hold a second public hearing and ultimately adopt the final 2024 budget and tax rate on **Wednesday, September 13, 2023**.

Residents are encouraged to review the proposed budget documents and attend the public hearings to voice their perspectives. Detailed information and meeting schedules can be found on <a href=”https://www.thewoodlandstownship-tx.gov”>The Woodlands Township’s official website</a>.