300 W. Davis St.
Conroe, Texas 77301
General Obligation and Water & Sewer Revenue Bonds
The City of Conroe issues Certificates of Obligation bonds and revenue bonds to provide for the construction and renovation of facilities, parks, streets, drainage, transportation, water and sewer improvements. Bonds have been issued for both governmental and business type activities. Long term debt also includes the City’s accrues liability for compensated absences, severance payables, notes payables, health claims, OPEB, net pension liabilities, and capital leases. Principal and interest payments on the City’s bonded debt are secured by ad valorem property taxes levied on all taxable property within City limits. Water and Sewer revenue bonds are secured by water and sewer enterprise fund revenues. Payments are recorded in the Debt Service Fund and Water & Sewer fund respectively. The ordinances provide that the revenue of the system is to be used first to pay operating and maintenance expenses of the system and second to establish and maintain the revenue bond funds. Remaining revenues may then be used for any lawful purpose. Management of the City believes that it is in compliance with all significant financial requirements as of September 30, 2019.
- General Obligation Bonds have been rated AA+ by Standard & Poor’s and Aa1 by Moody's..
- Water and Sewer Revenue Bonds have been rated AA by Standard & Poor’s and Aa3 by Moody's.
Conroe Industrial Development Corporation Sales Tax Bonds
The City of Conroe issues CIDC sales tax bonds to pay for the Installation of infrastructure and improve property to be used for development of an industrial park & technology park important to the economic growth and development of the City and its residents.
- Sales Tax Revenue Bonds have been rated A+ by Standard & Poor's and Aa3 by Moody's.
The budget page contains presentations and preparatory information as well as the proposed and adopted budgets for current and previous fiscal years, including downloadable budget data.
The tax rate for the City of Conroe for the current year is $0.4175 cents per $100 assessed value. Property taxes are billed in October and become delinquent after January 31st the following year. Assessed values represent the appraised value less applicable exemptions authorized by the City Council.
The City of Conroe contracts with Tammy J. McRae, Montgomery Tax Assessor-Collector, to collect property taxes on its behalf. If you have questions about your tax bill you may contact the Tax Office at www.mctx.org. Specific information pertaining to your property tax bill may be found on this site.
The Montgomery Central Appraisal District is responsible for determining the value of all properties on the tax roll. For specific questions about your property appraisal you may contact the Appraisal District at www.mcad-tx.org.
Revenues are often tied to economic activity, and sales tax is the largest revenue source for the City of Conroe. The City collects 2% from all taxable sales within the City limits. One percent is authorized for any general government use and ½% must be used to maintain a lower property tax. The other ½% is given to the Conroe Industrial Development Corporation (CIDC) for economic development. Sales tax is a highly volatile revenue source that will rise and fall unpredictably. To offset its volatility, we try to forecast its growth conservatively and maintain a higher than normal General Fund reserve. This budget conservatively assumes that there will be a 2% increase over the previous year’s estimate in sales tax revenue for the upcoming year. As compared to the previous year’s adopted budget, sales tax revenue is anticipated to increase by 1.3%.
Sales Tax Rate:
|City of Conroe||2.00%|
Hotel Occupancy Tax (HOT) Fund
The City of Conroe levies a 7% hotel occupancy tax, which by law must be used to promote the tourism and convention industry. The City has an agreement with Montgomery County in which it remits 2/7 of the tax to the County to help fund the Lone Star Convention Center. The City retains the remaining proceeds in the HOT Fund. In FY 09-10, the City established the HOT Fund, which is used to track these revenues and expenditures. The HOT Fund expenses include the Convention and Visitors Bureau (CVB). Major initiatives for FY 17-18 include additional funding for marketing and billboards, a downtown public relations contractual position, vintage travel posters, and hosting the Texas Public Pool Council annual conference.
Hotel Occupancy Tax Rate:
|City of Conroe||7.00%|
Local Debt Information - HB 1378
- Financial and Local Debt Information - Includes Issue-by-issue debt
Texas Bond Review Board
Texas agency that ensures debt financing is used prudently to meet Texas' infrastructure needs and other public purposes, supports and enhances the debt issuance and debt management functions of state and local entities, and administers the state's private activity bond allocation.
Texas Comptroller Debt at a Glance
The Texas Comptroller's office provides debt statistics on all Texas cities, counties, school districts, and community college districts, as well as the State of Texas.
Provides a link to the State of Texas Comptroller’s website about transparency in government.