Woodlands 2024 Budget & Tax Rate Public Hearings

**The Woodlands Township Board Advances 2024 Budget, Proposing Tax Rate Decrease Amid Rising Valuations**

The Woodlands Township Board of Directors is moving forward with its proposed 2024 budget and property tax rate, signaling a slight reduction in the rate while grappling with significantly increased property valuations that will still see most homeowners pay more. Public hearings are scheduled for September, offering residents crucial opportunities to provide feedback before final adoption.

Following initial budget workshops on August 10, the Board is considering a property tax rate of 18.10 cents per $100 valuation for the upcoming year. This represents a marginal decrease from the current rate of 18.22 cents. However, local homeowners are advised that this nominal reduction is unlikely to translate into lower tax bills due to a robust real estate market that has driven property appraisals upward.

For an average homestead in The Woodlands, values have climbed from $482,750 in 2023 to an estimated $537,967 for 2024. Consequently, even with the proposed lower rate, the average homeowner is projected to face an increase of approximately $94.62 on their annual tax bill. This trend reflects broader patterns in the Texas housing market, where strong demand and limited inventory continue to push property values higher, impacting local property tax assessments.

The total proposed budget for 2024 stands at $174.4 million, marking an increase from the $157.6 million budget of the previous year. This comprehensive financial plan is designed to fund a wide array of essential services critical to maintaining the quality of life in The Woodlands. Key allocations include public safety, encompassing contracts for fire and emergency services and law enforcement with the Montgomery County Sheriff’s Office; parks and recreation, which supports the community’s extensive network of green spaces and amenities; mobility initiatives for roads and pathways; environmental services; and economic development programs.

A substantial portion of the budget, $20 million, is earmarked for the 2024 Capital Improvement Plan (CIP). This investment is part of a larger, ambitious five-year strategy totaling $87 million dedicated to vital infrastructure upgrades across the Township. Planned improvements include enhancements to roadways, drainage systems, expansion and maintenance of the community’s popular pathway system, and upgrades to park facilities. These projects aim to address current needs and plan for future growth, ensuring The Woodlands remains a premier community.

Township officials encourage all community members to actively participate in the upcoming public meetings to voice their perspectives on the proposed budget and tax rate. Understanding the community’s priorities and concerns is crucial for the Board’s final decisions.

All public meetings will be held at The Woodlands Township, located at 2801 Technology Forest Boulevard. Residents can also typically find detailed budget documents and related information on the Township’s official website: TheWoodlandsTownship-TX.gov.

The schedule for upcoming public engagements and Board actions is as follows:

* **Wednesday, August 23, 2023, at 6 p.m.:** The proposed budget and tax rate will be formally presented and adopted for public hearing purposes at the regular Board Meeting.
* **Thursday, September 7, 2023, at 6 p.m.:** The first public hearing will take place, providing an opportunity for residents to offer feedback.
* **Wednesday, September 13, 2023, at 6 p.m.:** A second opportunity for public input is scheduled.
* **Wednesday, September 20, 2023, at 6 p.m.:** The Board is slated to give its final approval and formally adopt the 2024 budget and tax rate.

Residents’ engagement is vital as the Township Board works to balance fiscal responsibility with the ongoing provision of high-quality services and infrastructure for the community.