Summary by Don Norrell, The Woodlands Township President: Making the adjustments to costs and revenues as outlined above, reduces the net impact on the tax rate at incorporation. Using these rough projections, the existing Township tax rate of 23 cents per $100 of value (current) would increase to 34.16 cents at incorporation. Based on the cost of a home valued at $350,000, the additional annual cost of incorporation is approximately $391 per year per residential property or an increase in the tax rate of 48.5% (versus the previous 70.4% increase). This analysis is not intended to be a tax rate study or a complete review of the cost and revenue changes. The purpose of this preliminary evaluation is to suggest that an update to the 2011 financial projection should be done prior to presentation of the incorporation question to residents as certain factors may have changed.
