City Chief Financial Officer Kelly Wilson has presented annual financial reports on the city’s six Tax Increment Reinvestment Zones (TIRZ) to the City Council, sitting as the Princeton TIRZ Board.
A TIRZ is a state-authorized financing tool that captures the increase in property tax value above a base year within a defined area and dedicates a portion of that incremental revenue to reimburse developers for eligible public infrastructure costs. The captured increment does not create a new tax but reallocates growth in taxable value within the zone for a defined period.
Wilson presented reports for the fiscal year ending Sept. 30, 2025, “to be more transparent [in] best practices, as well as complying with state law under the Texas code.” The meeting was held Monday, Feb. 9, following the regular council meeting.
The CFO said TIRZ No. 2, Whitewing Trails PID No. 2 Phase 1, encompasses about 95 acres. According to the annual report, the development calls for 366 single-family homes, of which 350 were completed as of January 2026, along with 444 planned multifamily units, 162 of which are complete. The base year taxable value was $1,065,912 and the captured appraised value for fiscal 2025 was $128,489,294.
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