These two charts show the Austin tax rate in comparison to those of other major Texas cities – and also the tax bill, based on the median values of homes in each of the cities. Note that the Austin tax bill, for a 2011 median priced home (at $182,000, the highest of the five-city list) is second in the cross-city ranking. On the other hand, Austin’s tax rate for 2011 ranks lowest of the five cities, and the new proposed rate of 0.5029 would still rank lowest, by a considerable amount.
N.B.: For a majority of city residents – who are renters, not homeowners – this conventional “median-priced home” comparison is not terribly helpful. Property tax rates are indeed reflected in rental rates but there are no readily available indicators of the potential changes.
This article appears in August 31 • 2012.