As the median value of a home in Austin continues to sharply rise, so too do property tax bills within the city.
Most property owners in the city of Austin pay taxes to at least five entities: Austin ISD, the city of Austin, Travis County, Central Health—the county’s healthcare district—and Austin Community College.
Over the last six years, each of those five entities have kept their tax rates relatively consistent.
However, the median value of a home in Austin has skyrocketed in that time frame. The $332,366 median home value now is 79.5 percent higher than it was six years ago.
That spike in property values has led to a corresponding rise in property tax bills within the city, and increased revenues for the taxing entities.
Each of the five major taxing entities in the city has adopted its tax rate for the upcoming 2018-19 fiscal year. The median homeowner will pay a total of $7,300.42 combined to the five taxing entities, up from $4,560.19 in FY 2013-14.
Those totals do not include the homestead exemption, which decreases the tax bill for a homeowner provided the property is occupied as a principal residence.