In response to an annexation concession from 1891 that exempts scores of multimillion-dollar homes along Lake Austin from paying property taxes to Austin city coffers, council members Greg Casar and Jimmy Flannigan are leading a campaign to change that exemption.
Casar and Flannigan are pushing an ordinance that will come before City Council June 20 that basically reverses a 1986 ordinance that continued the 1891 property tax exemption for properties along Lake Austin.
As part of an outreach campaign regarding what they are referring to as the “Mistake on the Lake,” Flannigan and Casar, along with other community representatives, will answer questions from the press Monday, June 10, regarding the plan to put these homes back on the tax rolls, according to a press release.
“Today, most of these homes are worth millions of dollars, including several homes worth over $10 million,” the release states, adding tax money brought in from these homes would “end decades of unfair subsidy, creating opportunities to fund to necessary services for young people and for those experiencing homelessness.”
The press conference will take place Monday, June 10 at 9 a.m. in the Mayor’s Conference Room, Room 2005, within Austin City Hall, 301 W. 2nd St., Austin.