Announcement from Brian Witt:
Bellaire has been my home for over 25 years. After graduating from Episcopal High School, I earned degrees in Finance and History from Trinity University. I spent 20 years in the financial services industry working for AIM/Invesco, The Hartford, and Protective helping advisors and clients plan for retirement. Looking to spend less time traveling and more time with my family, I joined B. K. Witt & Associates in 2017 with a focus on helping people buy and manage rental real estate.
I’m in my fifth year on the Bellaire’s Environmental Sustainability Board (2 years as Vice Chairman) and my 4th year as a member of the Bellaire/Southwest Rotary. I’m particularly proud of my involvement in Rotary’s Flags Over Bellaire program. Four federal holidays a year, my 10 year old son, my father, and I put up and take down over 100 of the flags you see lining the streets of Bellaire. I enjoy coaching my son’s Bellaire Little League team, though games these days look very different than when he was four!
I’m passionate about our community. As a member of City Council, my experience, my willingness to collaborate, and my extensive financial background will prove valuable serving the City of Bellaire. I will be an insightful and careful steward of our city’s resources and a representative who genuinely cares to make life better for everyone who calls Bellaire home.
My financial experience:
I was a financial advisor for 20 years. I’ve worked with thousands of advisors, business owners, and individuals to develop plans for college education, retirement, and how to pass money to the next generation. A key part of the process is asking the right questions and listening to the answers to determine goals and differentiate/prioritize needs vs wants. (A process that sounds very similar to City Council budget meetings!)
Thoughts on our property taxes:
I often hear, “Why aren’t we like West University? Their rate is much lower than ours!!” As a taxpayer, are you more concerned about the property tax rate or the amount you pay? While West University’s rate is lower, the amount each West U household pays is about $400 more due to exemptions (they don’t offer a 20% homestead exemption) and property tax values.
Bellaire’s budget:
Bellaire is 50% bigger in size than West University, but our budget is only 8% more than West University’s. (The city should get credit for doing more with less!) *
The City’s debt:
I’ve heard a lot about the city’s current debt of 110 million dollars. Here are a few things you may not have heard:
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100% of our debt is voter approved
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The debt is decreasing 5 to 6 million dollars each year from principal payments
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The current debt will be paid off in 2042/2043
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The city actively manages our debt. By refinancing, the average interest rate on our outstanding bonds is around 3%. In fact, the bonds that we are refinancing this month are under 2%
What can we do about flooding?
Flooding is a complicated issue that Bellaire can’t solve alone. Bellaire’s Flood Mitigation Task Force recently approved a multi-staged approach to help flooding, starting in Southdale. We have a unique opportunity to leverage federal and state money to pay for large portions of project(s) that will help Bellaire, but we need action. Every day we delay means less federal/state money for our projects.
