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Council accepts Tax Increment Reinvestment Zone No. 3 annual report; revenue used for zone projects
Summary
The council received and approved the TIRZ No. 3 annual report as required by the Texas Tax Code; staff reported the zone generated $317,414 this tax year and spent the full amount with no fund balance.
The Tomball City Council voted unanimously to accept the Tax Increment Reinvestment Zone (TIRZ) No. 3 annual report for the 2023–24 tax year, a presentation staff said is required under the Texas Tax Code.
A staff presenter explained the zone was created in 2021 and covers roughly 2,241 acres (city staff’s verbal estimate). The zone has a 30‑year term unless debt is issued and attached to the zone, the presenter said. When the zone was established the base taxable value was about $7.8 million; this year the taxable value in the zone was approximately $152 million, producing an increment of roughly $144 million.
The presenter said 75% of the growth in property‑tax revenue within the zone is allocated as TIRZ revenue and that this year the calculation produced $317,414, which was fully spent on zone purposes so there is no current fund balance. City staff closed by inviting questions and the council moved, seconded and voted to adopt Resolution No. 2025‑08 accepting the annual report; the record shows the motion carried unanimously.
The annual report confirms the zone generated increment revenue in its first year of collections and that the city is the sole participating taxing entity for the TIRZ, according to the staff presentation.
