In This Issue
Generous Words
TEXpansion: Medical center brings jobs to Lakeway
Canadian baker cooks up recipe for success
Running retailer keeps community healthy
Partnering for Impact: How to sweeten incentives for retail development
Texas tops in weathering economy
Web Exclusive
Customer service drives Weakley-Watson’s longevity
From Comptroller Susan Combs
As the state’s chief tax collector, accountant, revenue estimator and treasurer, the Texas Comptroller’s office writes the checks and keeps the books for the multi-billion dollar business of state government. We track a variety of economic indicators that reflect the health of the Texas economy. I think it’s important, particularly in these tumultuous economic times, to share these numbers with you good citizens of Texas.
Our office is charged with providing the Texas Legislature an annual estimate of taxable property values. The taxable values for tax years 2008 and 2009 are estimated to assist in budgeting for the 2010-11 biennium. Our estimates were based on a final 2007 taxable value of $1.519 trillion. The 2007 value represents a 10.85 percent increase over 2006.
Although our Texas real estate market remains relatively strong, sales activity has begun to soften, though not as sharply as experienced in some other regions of the country. Overall, we expect the growth rate for Texas taxable property value will moderate to 8.84 percent in tax year 2008, slowing to 4.96 percent in 2009.
Due diligence dictates that our current estimates – especially for 2009 – must be taken with considerable caution. This forecast could change significantly. As required by law, I will provide an updated forecast of 2008 and 2009 taxable property value growth to the Texas Legislature by March 1, 2009.
In light of the volatile events that our nation is currently experiencing in the finance, credit and national real estate markets, we present this issue of Texas Rising, which spotlights Texas-based businesses of all sizes from regions across the state. It’s more important than ever to assist local retailers and encourage citizens to support their local economies.
When it comes to economic development, creating jobs and generating new levels of prosperity, local governments in Texas are focused on rising to the occasion every time.
Susan Combs
Tell Us Your Story!
E-mail us at texas.rising@cpa.state.tx.us.
We want to hear about your town’s economic development accomplishments. Whether you’ve landed a new employer or you’ve partnered with a university to train tomorrow’s work force, please tell us the unique solutions you’re using to create success in your community every day.