With several local taxing entities evaluating lower tax rates this summer, area homeowners might anticipate a reduction in their property tax bills.
However, while most tax rates are going down—with some notable local exceptions: the cities of Hutto and Round Rock are considering rate increases—rates are not falling at the same pace of property values increasing.
Williamson County’s taxable value increased to $70.6 billion in 2019, according to Williamson Central Appraisal District certified data. This represents an 8.95% increase, up from $64.8 billion in 2018.
Even as new developments join the tax rolls, new neighborhoods and office buildings require additional police services, fire stations, schools, roads, water and wastewater services. These services cost more than tax dollars collected on new development.
As property values continue to increase within our rapidly growing communities, homeowners will likely not see a decrease on their property taxes, even in light of lower tax rates.