Tax Increment Reinvestment Zones (TIRZs) are designated areas of the City of Houston (City) created pursuant to Chapter 311 of the Texas Tax Code by Ordinance of approved by City Council. A TIRZ creates and extends public projects which, in turn, attract development within these areas. The policy of the City is to focus these projects on developing and building infrastructure to catalyze future economic development. City Council approves all annual budgets and project plans for each TIRZ.
No. The life of a TIRZ is set forth in its designating Ordinance. City Council may vote to extend the life of a TIRZ beyond the life originally created. The Memorial Heights TIRZ is currently set to terminate in 2045.
The Mayor, with City Council approval, appoints the Directors to the Board for 2 year terms.
Revenue generated within a TIRZ comes from existing tax revenue. The City sets the property tax base year at the same time the TIRZ is created. Tax revenue that increases above this base year within the TIRZ is called “increment”. The increment is then reinvested into the area via approved projects in accordance within a project plan developed by the Board of Directors and approved by City Council.
The current CIP plan detailing the current 5 year plan is located in “Documents” section of this website.
