HIGHLIGHTS MAGNOLIA New development in Magnolia is still on pause after Council unanimously approved extending its temporary development moratorium Aug. 8 for another 120 days due to not enough water capacity. MAGNOLIA Council approved proposing a property tax rate of $0.2948 per $100 valuation, a decrease from $0.3813. Tomball City Council will meet at 6 p.m. Sept. 5 and 18 at 401 Market St., Tomball. 281-351-5484. www.tomballtx.gov Magnolia City Council will meet at 6 p.m. Sept. 12 at 18111 Buddy Riley Blvd., Magnolia. 281-356-2266. www.cityofmagnolia.com will meet at 9:30 a.m. Sept. 12 and 26 at 501 N. Thompson St., Ste. 402, Conroe. 936-756-0571. www.mctx.org Harris County Commissioners Court will meet at 10 a.m. Sept. 12 and 19. Montgomery County Commissioners Court Meetings are held virtually and at 1001 Preston St., Ste. 934, Houston. www.harriscountytx.gov MEETINGS WE COVER
Montgomery County looks to bond, certificates amid funding issues
NAVIGATING SHORTFALLS Montgomery County saw a drop in property value heading into its 2023-24 budget preparations. Montgomery County FY 2023-24: $2.37B property value loss Translates to : $8.8M
BY JESSICA SHORTEN
countywide salary increases, follow- ing a $2.3 billion property tax value loss. To cover expenses, commis- sioners approved Aug. 10 a tax rate of $0.3696 per $100 valuation. While the tax rate is slightly lower than the FY 2022-23 tax rate of $0.3742, it is still above the no-new-revenue rate, which means residents who experi- enced higher tax appraisals this year will see higher property tax bills. What they’re saying: “I think we need some type of a bond if we’re going to be doing this sort of thing and plan on it next year to be able to fix the things that need to be fixed around here,” Keough said. “We’ve kicked all this can down the road so many times.” What’s next: Commissioners pushed back discussions Aug. 22 on a poten- tial bond issue and will discuss again
MONTGOMERY COUNTY At an Aug. 9 budget workshop, Montgom- ery County commissioners discussed a potential infrastructure bond mea- sure as well as issuing certificates of obligation to cover major projects as the county already stands $7 million over budget in fiscal year 2023-24. What you need to know: Precinct 3 Commissioner James Noack pro- posed the county seek certificates of obligation, or COs, to cover a number of capital improvement projects. County Judge Mark Keough countered the idea with holding an infrastructure bond election. The breakdown: Montgomery County approved a tax rate higher than the no-new-revenue rate to fund over $7.9 million in budget expenses for FY 2023-24, such as personnel and
in lost property tax revenue Proposed FY 2023 budget: $328.94M Increase from FY 2022-23: $7.9M Proposed tax rate: $0.3696 per $100 valuation No-new-revenue tax rate: $0.3479 per $100 valuation
SOURCE: MONTGOMERY COUNTY/COMMUNITY IMPACT
Aug. 30, awaiting professional input from bond counsel. Commissioners are also scheduled to approve the budget and tax rate Aug. 30.
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TOMBALL - MAGNOLIA EDITION • AUGUST 2023
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