Upcoming Public hearing on TAX BREAKS
for massive developments on Hwy 132
Editorial… Very few people usually attend public hearings. But there is a big public hearing coming up about a possible TIRZ zone that could dramatically change the landscape of our area if it passes.
It was a “TIRZ” (tax incentive) like the one proposed that led to the rapid development of the Potranco Ranch subdivision in the Castroville area, and the many other subdivisions that followed it.
If you are not familiar with the term TIRZ, it is described as a “tax incentive” for large developments where developers capture a large percentage of tax revenue on improved property value.
For example, on the Potranco Ranch TIRZ zone agreement, the developer will capture over $12 million dollars ( which is a large % of the property taxes being remitted back to the developer from Medina County) during the 30 year agreement.
With the price per acre wildly increasing in these sudivisions, the value of land, homes, and cost of property taxes for residents in Medina County have also increased.
And look at the traffic and massive MVISD school bonds needed to keep up with that growth.
TIRZ zones were originally created to help develop “blighted” areas. In Medina County, they have been used to develop subdivisions where farms and ranches once were.
A few numbers:
- Appraised values of property in Medina County increased 237% in taxable value from 2017 to 2024 (as of May). The increase is due to new developments, and the overall market in general, according to Chief Tax Appraiser Johnette Dixon.
- Average Home values which are used to calculate property taxes increased from:
$253,805 to $295,180 in 1 year from 2022 to 2023. - Numbers of homes in Medina County has grown from 18,791 homes in 2017 –to 23,324 homes as of May 2023.
- Land used for Agriculture decreased by over 33,000 acres in Medina County in the past 11 years
- In the same time, residential increased by nearly 30,000 acres
- Each year, the County Commisioners have an OPTION to choose the “effective tax rate” which would produce the same amount of revenue as the previous year even while reducing the tax burden on individual residents, due to growth, but this has NOT been done.
Therefore the massive growth in revenue has NOT resulted in any tax breaks for people who have lived and worked here for years. Instead, skyrocketing values have resulted in many property owners paying double or triple what they did before
What do you think?
More on hearing on page 7