CITY & COUNTY
News from Montgomery County, Oak Ridge North, Shenandoah & The Woodlands
The Woodlands increases senior tax exemption to $40K
Additional $46K approved for Robinson Road widening
BY VANESSA HOLT
BUDGET CONSIDERATIONS The increase in a homestead exemption for some residents is one of several elements that will affect budgeting for 2023. Homestead exemption: Reduces the value of the home on which property taxes are assessed Applies to those age 65 and older and those who are disabled Increased from $25,000 to $40,000 The increased exemption reduces township tax revenue by $300,000 Each $10,000 of exemption for eligible homeowners means $200,000 less tax revenue for The Woodlands Township
THE WOODLANDS In a budget planning meet- ing held June 22 before The Woodlands’ regular board of directors meeting, officials voted to increase the homestead exemption for residents age 65 and older and those who are disabled from $25,000 to $40,000 and discussed how that would affect the township’s revenue. The change will reduce revenue to the township by about $300,000 for fiscal year 2023, according to President and General Manager Monique Sharp. The township’s fiscal year is from January to December. Budget meetings are scheduled for the week of Aug. 22, and the board is scheduled to vote on a proposed tax rate Aug. 25. Township officials said the amount of revenue that can be collected through taxation is limited by state law to 3.5% above the previous year for maintenance and operations, or $1.6 million. If the township adopts a no-new-revenue tax rate, it will receive the same amount of tax revenue as the previous year. “Property values are going up, but ... my guess is we’re going to go down to the effective tax rate,” said Bruce Rieser, board vice chair. Discussion and decisions regarding the tax rate will take place in August.
BY VANESSA HOLT
OAK RIDGE NORTH The bidding process for Oak Ridge North’s $6 million Robinson Road alignment and widening project took a step forward on June 13 when additional costs were approved by City Council. The latest phase of approvals was $46,860 for additional scope in work being performed by RPS Infrastructure, a Houston-based engineering firm performing bid services, according to the meeting agenda packet. The project will align Robinson and Hanna roads. RPS Engineering will complete the advertising and bid process for clearing, utility coordinating, construction bid advertising and several other elements of the Robinson Road project, according to meeting materials. The construction project was originally slated to go out for bids in early 2023, but officials have said since late 2021 it could happen sooner. When completed, the project could allow for additional future redevelopment in the area, officials have said. The city acquired additional right-of-way for the project through land acquisi- tions in May.
SOURCE: THE WOODLANDS TOWNSHIP/COMMUNITY IMPACT NEWSPAPER
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