Cinco MUD 8 Tax Rate Increase
The operation of Cinco MUD 8 is dependent upon the collection of property taxes. 90% of the homes were flooded leading to decreased appraised values. Due to Hurricane Harvey and its effects on the District, the 2018 property tax rate was raised to $0.96 per $100 of assessed value. While we understand that some homes within the District were not impacted as much as others, the Board of Directors had to make a difficult decision that it thought would be in the overall best interest of the District’s residents by keeping the District operating. As soon as the Hurricane Harvey rains stopped, the District met and decided to hire debris removal services in an attempt to clean the neighborhood and help residents with the rebuilding process as quickly as possible. Additionally, the District paid to clean and repair all streets that were damaged by Hurricane Harvey and paid to clean the entirety of the District’s storm sewer system. While the District sympathizes with everyone paying the increased tax rate, those flooded homes will receive a net lower bill over 2017. The Board of Directors is hopeful to reduce its tax rate for 2019 when the value of homes go back up.
