AUSTIN (KXAN) — Local governments and tax entities are approving their tax rates and budgets for fiscal year 2024-25, which means the decisions they make now will impact your wallet before the end of the calendar year.
Adding it all up — if Central Texas entities move forward with their proposed tax rates and you vote for additional tax increases that have been sent to your November ballot — the average homeowner could pay roughly $950 more next fiscal year, or roughly $80 more a month.
Budget staff calculate expected costs using the “average homeowner,” the specifications for which have to be laid out for the public in accordance with state law. If you want a better idea of how those proposed rate increases could impact you specifically, you can type your address into this website, which Travis County’s Tax Office links to in its truth-in-taxation resource page.
This is a breakdown of tax rates each local entity is looking to set, or has already approved, but your property taxes are also greatly impacted by the value of your home and homestead exemption qualifications.
City of Austin
Wednesday, Austin City Council signed off on a $5.9 billion budget for Fiscal Year 2024-25. It’s the largest budget in city history.
A “typical Austin homeowner” will see property taxes go up nearly $16 a month, or $361.92 per year, according to the city of Austin. Add rates and fees (including things like trash, water and electric), and you’ll see a roughly $30 increase every month shaking out to $361.92 per year.
The new budget will include a 4% pay increase for civilian employees, millions for sheltering people experiencing homelessness, money for staffing new fire and EMS stations and additional funding for the police department. You can find more on the city of Austin’s budget here.
Travis County
According to Travis County’s proposed budget, which Travis County Commissioners are expected to vote on before the end of the week, the county’s portion of your property tax bill is expected to go up by roughly $287 for the year — that is, if you vote for a tax rate increase in November.
Tuesday, Travis County Commissioners unanimously voted to send a property tax rate hike to your ballot this November. The proposed 2.5-cent property tax rate increase will go toward creating new affordable child care.
According to county staff, the tax rate increase would generate roughly $75 million in the first year. It would cost the average homeowner roughly $125 in the same time period.
Austin Independent School District
AISD will also consider sending a tax rate increase to your November ballot next week to help chip away at the budget deficit the school district is predicting it will see next fiscal year.
If voters approve that tax rate increase, the average homeowner will pay $412 additional dollars, or $34 extra a month.
AISD has a tax rate calculator. You can find it here.
Austin Community College
The ACC Board of Trustees signed off on a $534 million budget in July. Much of the college’s funding, roughly 67%, comes from property taxes, but the board is not considering a bump in tax rate this fiscal year.
“The board is considering a no-new-revenue tax rate of $0.1013 (10.13 cents) per $100 valuation, consisting of $0.0881 for Maintenance and Operations and $0.0132 for Debt Service. The proposed rate would mean the average property tax bill would not increase,” ACC staff wrote.
Central Health
Central Health is still working through its budget process. After its board of managers sign off, Travis County Commissioners still need to weigh in.
Central Health is proposing a tax rate of 10.7969 cents per $100 of property valuation.
“This increase, amounting to $66 for the average taxable homestead in Travis County, will help fund bold initiatives to transform healthcare access for our community. We are grateful for the trust taxpayers place in Central Health as we work to create a more equitable healthcare system,” Central Health wrote.