LEAGUE CITY  — More than 400 homeowners in a League City neighborhood could see their tax bills go down by $100 to $400 this year.

The city is contemplating borrowing $2.2 million in bonds to pay off the development assessments owed to the developers of the Centerpointe development, said Rebecca Underhill, the city’s director of finance.

Contact reporter Christopher Smith Gonzalez at 409-683-5314 or chris.gonzalez@galvnews.com.

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(7) comments

Lyra Mitchell

Does this make all the tax payers in the city pay this neighborhoods taxes?

Doyle Beard

According to the article the reduction would be in the lower bond interest rate. Paying off the developer , taxpayers would still be paying their share. No other taxpayer would be picking up the tab.Please refer to the article for clarificaion on this matter.

Doyle Beard

Home owners have always paid City, County and School taxes as well as the PID assessment. The savings would come fro the interet rate on the PID not property taxes.

Centerpointe Moderator

Please spell our name correctly, because we despair when people don't.

Centerpointe has an "e" on the end of it. Public records suggest that the subdivision was legally named prior to the incorporation of the large local utility company whose name does not have an "e" on the end of it.

In other words, we were here first. Not that it matters - neither the pre-dating nor the different spelling has had much of an effect on the ongoing confusion that has been generated by the regrettable similarity.

I don't presume to know the mind of the developer, but I suspect we were named thusly because the subdivision falls on the center point of a line drawn between the City of Houston and the City of Galveston (you can get a hint of this a mile and a half northwest of us where the signage at FM 518 and IH-45 indicates 23 miles to Houston and 26 miles to Galveston). I like to joke that our personal center of everything is in everyone else's exact middle of nowhere.
:-)

Gary Miller

If I read it correctly the only people getting a discount are those who have been paying the higher interest rate.
Centerpoint(e) residents.

Sweet Sue LaRue

I am confused, would these people that are staying in Centerpointe be homeowners or mortgage holders? Would that be a homeowners association or a mortgage holders association?

Kevin Lang

Centerpointe is a subdivision. It has it's own Home Owners Association. A taxing authority was set up to collect money from the homeowners to cover the cost of the municipal utilities. My understanding is that the taxing authority will remain intact. The repayment period will also remain the same. The only thing significantly changing is the interest rate on the bonds.

I believe that most of the residents of Centerpointe are paying mortgages. Some may have full title to their homes. All should be taxpayers, however, so all, in one way or another, should be writing checks to the city to pay off these bonds.

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