The Midtown Redevelopment Authority (MRA) and Tax Increment Reinvestment Zone No. 2 (TIRZ) operate in tandem to drive the revitalization of Midtown Houston. The TIRZ captures the incremental increase in property tax revenue within its boundaries, while MRA channels these funds back into the neighborhood to improve essential infrastructure, including roads, utilities parks, public spaces, and cultural amenities.
Central to this mission is collaboration with stakeholders, city departments, and private developers to ensure that economic growth and revitalization efforts align with community needs. Additionally, a portion of the MRA/TIRZ 2 funds are allocated to developing affordable housing.
Since its formation in the mid-1990s, Midtown’s property values have surged from $211 million to over $1.6 billion. These significant gains underscore how MRA’s revitalization efforts have transformed Midtown Houston into a dynamic, modern, and inclusive neighborhood for all who choose to explore, relax and connect here.
In accordance with the requirements of Section 551.043(c)(1) of the Texas Government Code, as amended., the proposed fiscal year 2025 budget is accessible on the home page of the Authority’s Internet website through the following link:
In order to comply with the requirements of Section 551.043(c)(2) of the Texas Government Code, the Authority hereby provides the following taxpayer impact statement: FISCAL YEAR 2025 BUDGET
The Midtown Redevelopment Authority is not a taxing unit as defined by Section 1.04, Texas Tax Code, and has no authority to impose ad valorem taxes on property. For a median-valued homestead property, adoption of the proposed budget does not have an effect on the property tax bill in dollars pertaining to the property for the current fiscal year as compared to an estimate of the property tax bill in dollars for the same property for the upcoming fiscal year.
