Stakeholder Information

DOWNTOWN DISTRICT 2024 DRAFT BUDGET

The 2024 budget was prepared using the six goals outlined in the 2021-2025 Service and Improvement Plan and is similar in scope to the budgets adopted in 2021-2023. The District continues to experience shortfalls in projected revenues due to lower HCAD values because of property protests. On November 9, 2023, the District board approved a .50 cent increase to the assessment rate for 2024 to maintain the same level of service provided in 2021 - 2023. The assessment rate will be 13.25 cents per $100 of assessed value, with the split of 12.25 cents to operating expenditures and 1 cent to capital improvements. The District recognizes a reserve for protests of 11.36% of total assessment income based on an 8-year lookback and will net $18.9 million in total revenue that includes assessments, reimbursements, and interest income against a budget of $22.8 million. This will result in a $3.9 million draw against the fund (reserve) balance of $11.9 million.

Kris Larson, President, and CEO will conduct two virtual townhall sessions to go over the 2024 budget and will respond to any questions at that time.

Session 1: Thursday, November 30, 2023 from 1:00 - 2:00 pm

Web Link: Join Zoom Meeting
Or dial: 346.248-7799 (local) / 877-853-5257 (toll free)

Meeting ID: 819 2181 7788
Passcode: 740237

Session 2: Tuesday, December 5, 2023 from 6:00 - 7:00 pm

Web Link: Join Zoom Meeting
Or dial: 346.248-7799 (local) / 877-853-5257 (toll free)

Meeting ID: 837 8317 8091
Passcode: 860720

If you have questions post session, please contact kris.larson@downtownhouston.org