How much are property taxes in Austin, Texas?

Property taxes in Austin are measured by the assessed value of your property and the combined property tax rate. To get to this sum, the Harris County Appraisal District appraises your property based on market conditions and sends it to the Harris County Tax Office. 

That figure is then multiplied by the total tax rate, which is set by a collection of local governments—usually the city, county, and school districts. Because the market values are changing and spending demands vary, in most cases, your tax rate can be different each year.

While these rates vary across the state of Texas, the average property tax rate in Austin is about 2% of the evaluated value. That means that if your home is valued at $500,000, you can expect to pay around $11,000 in property taxes every year.

According to the city of Austin, Texas, the budget for FY 2023-24 will raise $34,430,743 more in property tax income than the preceding year’s budget. The revenue from new property added to the tax roll this year is $10,696,135. The Austin, Texas, property tax rate for the FY 2023-24 is 44.58 cents per $100 taxable value.

These figures swing up or down with shifts in property values and the tax rate the government sets. Knowing how to read your annual assessment notice and your tax rate will help you make sound financial planning decisions. The goal is to avoid unexpected tax bills, and by staying up-to-date and informed, you can do that with ease.