The Woodlands Association assessment rate for 2008 has been lowered to 38.5 cents per $100 of assessable value. This rate is seven cents, or 15.0 percent less than TWA 2007 property assessment rate. The decrease in rate is attributable to the results of the November 6, 2007 election whereby voters approved the expansion of boundaries for The Woodlands Town Center Improvement District (now called The Woodlands Township). $6.1 million of sales taxes collected within The Woodlands Township in 2008 will be available to fund a portion of expenses previously paid by community association assessment fees.

The TWA Board also anticipates that the assessment rate will again be lowered in 2009 as a result of additional sales tax collections by The Woodlands Township.

The Woodlands Association plans to transfer its operations and associated rights and responsibilities to The Woodlands Township as of January 1, 2010, as a result of voters granting The Woodlands Township authority to reconstitute its Board of Directors so that members are elected at large throughout the expanded Township as well as the authority to levy a property tax. This means that beginning in 2010, the TWA assessment will be replaced with a tax-deductible Township property tax levy.

This has been a historic year for The Woodlands. The Community voted overwhelmingly to approve ballot propositions that provided fora change in how The Woodlands is governed and a change in the method of funding community services. The TWA Board of Directors has been very involved in this process and is committed to assuring an effective and efficient transition of community services to the new Township in 2010.
Source: TWA