Can Austin, Texas Eliminate Property Tax?
There’s no doubt there are a lot of benefits to owning property in Austin, Texas. However, many may find property taxes burdensome. That leads many to wonder if there are ways to get out of paying property taxes in Austin. The answer to that is a resounding NO. Why? Read this post to learn more about Austin, Texas, property tax and why it is impossible to escape it.
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As of August 2024, the median list price of Austin homes was $624,900. Remember, Austin real estate data is constantly changing. Contact Capital Downtown Realtors® for help buying and selling homes in Austin, TX.
Austin Texas Property Tax: Learning the Basics
1. Calculating Property Tax
Before delving into Austin property taxes, let’s deal with the basics. You can get the amount of your property tax by multiplying the assessed value of your home by the tax rate. The Travis Central Appraisal District, or TCAD, comes in here. TCAD is an independent government agency in charge of valuing properties for taxation purposes. They determine the assessed value of your home based on various factors such as the property’s size, location, and condition.
2. Property Taxes and Local Government
Property taxes fund most of Austin’s public services, such as public school education and fire and police protection. They also fund the upkeep of infrastructure and city parks. For instance, property taxes fund teachers’ and staff salaries in public schools and the maintenance of fire stations and police precincts. They also cover the costs of construction and repairs of local roads and bridges.
3. Appealing Property Taxes
In some situations, you can appeal the assessment of your property tax. You can do this by filing a protest to the Travis Central Appraisal District. Bring your documents, such as a recent appraisal, to prove your claim. But suppose you receive a denial from your protest. In that case, you can still appeal to the Appraisal Review Board. This a panel consisting of volunteers appointed by the Travis County Commissioner’s Court to decide on tax matters.
All in all, property taxes can be burdensome, but they serve a greater purpose. These property taxes help provide the community with safer environments, well-funded schools, and better infrastructure. In turn, that helps maintain property values.
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