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| Austin Real Estate Taxes. |
Real estate taxes in the Austin area range between about 1.6% to 2.7%.
The sales tax rate is 8.25%.
Texas has no state income tax.
They overall rate for your home will vary according to the number of jurisdictions that apply to the property. |
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Tax Rates.
See Tax rates for Austin Area . |
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Property Valuations.
Each year, on January 1, the County Appraisal District sets a value for each property for the current year. This valuation is sent to you in April.
You have a certain time to file a protest. If no protest is filed, this value will stand. Tax rates are set in September, and bills are sent out in October. |
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Homestead Exemption.
After you have closed on your home and have lived in it on January 1 of the following year, you become eligible for a "homestead exemption". It is important to send in your homestead form, so that you get the tax reduction and start the 10% cap on tax increases.
You must file for your exemption by sending an application to the Appraisal District. This will entitle you to a reduction in property tax for as long as you live in the home. It does not apply to any other real estate that you may own. Below is a list of appraisal districts.
On a $100,000 valuation you would save about $300 per year.
In addition, Texas homeowners enjoy a 10% cap on annual tax increases on their home. This means that the taxs cannot rise by more than 10% during your ownership.
Other exemptions include the "over 65," "disabled homeowner" and "disabled veteran." |
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A MUD is a Municipal Utility District.
Municipal Utility Districts are quasi-governmental bodies created under state laws to provide utility service. They are typically created by real estate developers to provide water and wastewater to developments when city utilities are not available. The districts issue municipal bonds and have taxing authority to raise money to repay the bonds.
If you select a home within a Municipal Utility District, you will receive a disclosure form, stating the bond amounts, tax rate and stand-by fees for lots. |
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Local Tax Links.
Travis County Appraisal District
Travis County Tax Office
Williamson County Appraisal District
Hays County Appraisal District
Tax Remedy, Inc. - Property Tax protest service
Jeff Bullard - 512-476-2277 - Property tax protest service |
Tax Environment
"Speaking of taxes, a recent report ranks Texas 43 rd on the list of state-by-state tax environments. Hey, not to worry. Number One is the worst.
The group is called the Tax Foundation. Its 2008 study evaluated state and local taxes paid by each state’s residents. It then divided the amount by total state income. This gave them a method to measure the state’s tax burden on its residents.
According to its report, Texas taxpayers pay 8.4% of their income in state and local taxes (this includes taxes paid to other states). The dollar amount is $3,580 per capita. New Jersey residents are the most burdened. They pay 11.8% of their income in state and local taxes. Nationally, citizens on average paid 9.7% of their income in state and local taxes.
Drilling down further in the tax burden numbers, Texas residents came out well on another part of the spectrum. For instance, Texans paid $1,498 per capita in taxes to other states. But the good news is that, Texas collected $2,082 per-capita in taxes from non-residents. A strong state economy helps swing this balance in favor of Texas residents.
All of this is important – especially for the decision-makers around this nation who are making long-term plans on where to invest in their company’s future. Boil it down to the basics: A company looking to re-locate or to expand its operations – and thereby create jobs – ought to put Texas at the top of its list.
The cold, hard reality is this:a company will benefit by operating in an economic environment that is among the best – some say the best – in the nation. And a company’s employees will benefitby keeping more of their wages in their jeans. Win-win. "
Quote from: Neal Spelce Report - 8/2008 |
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