The City of Austin is one of multiple taxing entities to which property owners pay taxes annually. The City of Austin property tax rate is composed of two parts: the Operations and Maintenance rate (O&M) and the debt service rate. The debt service rate is set in order to generate the revenue necessary to make the City’s payments for its tax-supported debt. The 2016 fiscal year debt service tax rate is 10.62 cents for every $100 of taxable assessed property value. The 2016 fiscal year O&M tax rate is 35.27 cents for every $100 of taxable assessed property value.
The City of Austin's general obligation bonds are backed by the City's levy of an ad valorem tax (property tax) to secure payment of the bonds. Passage of the proposition and issuance of the bonds and notes would affect only the debt service tax rate portion of the City of Austin tax rate.
Tax Bill Impact Calculator
The estimated tax bill impact of passage of the proposition and issuance of the proposed bonds and notes contained in this section is an approximation based on the fiscal year 2016 property tax rate (45.89 cents per $100 of taxable assessed value) as well as assumptions about market and economic conditions, and may be subject to change. The numbers provided in the Tax Bill Impact Calculator do not guarantee a certain impact on a property owner’s annual tax bill.
To view a property’s taxable value, visit the Travis Central Appraisal District at www.TravisCAD.org if the property is located in Travis County; the Williamson Central Appraisal District at www.WCAD.org if the property is in Williamson County; or the Hays County Central Appraisal District at www.HaysCAD.com if the property is located in Hays County.
The anticipated annual tax bill impact is based on taxable home value. Taxable home value is the value of a home after property tax exemptions, such as the homestead exemption, or senior exemption, have been applied.
Enter Taxable Assessed Home Value
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Estimated Annual Tax Bill Impact
Estimated Tax Bill Impact by Taxable Assessed Property Value
The following table provides the anticipated tax bill impact that may result from the issuance of transportation and mobility bonds, if approved by voters.The estimated tax bill impact of passage of the proposition and issuance of the proposed bonds and notes contained in this section is an approximation based on the fiscal year 2016 property tax rate (45.89 cents per $100 of taxable assessed value) as well as assumptions about market and economic conditions, and may be subject to change. The numbers provided in the table on this website do not guarantee a certain impact on a property owner’s annual tax bill.
Taxable Property Value
Anticipated Annual Tax Bill Impact*
Anticipated Monthly Tax Bill Impact
$251,994 (2016 median)
*Numbers have been rounded up to the closest whole number
Information provided Pursuant to Section 3.009, Texas Election Code
As required by Section 3.009, Texas Election Code, the following disclosures were provided in Ordinance No. 20160818-023: If the issuance of bonds and notes is authorized by voters, taxes sufficient, within the limits prescribed by law, to pay the annual principal of and interest on the bonds and notes and to provide a sinking fund to pay the bonds and notes may be imposed. Bonds and notes authorized pursuant to this ordinance may be issued to mature over a time period not to exceed 40 years from their date of issuance and bearing interest at the rate or rates (not to exceed 15%), as authorized by law and determined by the Council. As of the beginning of FY 2016, the aggregate amount of outstanding principal of the City’s debt obligations was $1,302,730,000, and the aggregate amount of outstanding interest on the City’s debt obligations was $485,909,029.50, and (vii) the City’s ad valorem debt service tax rate as of the date of adoption of this ordinance is $0.1062 per $100 of taxable property.
Based upon market conditions as of the date of this ordinance and using taxable assessed values for the 2015 tax year (2015/16 fiscal year), without adjustment for anticipated growth in taxable assessed value in future years, if the bonds and notes are authorized, the estimated total tax rate of the City is expected to be approximately $0.5339 per $100 of taxable assessed value (which represents an increase of $0.0750 per $100 taxable assessed valuation as compared to the City’s total tax rate as of the date of adoption of this ordinance), based on current State law, which is subject to change.
As was presented to Council, applying the assumptions used in the General Obligation Bond Capacity Analysis dated June 1, 2016, which includes forecasted growth in taxable assessed value, City financial staff has determined that, if the bonds and notes are authorized, the City’s total tax rate would increase by an estimated $0.0225 per $100 of taxable assessed valuation (as compared to the City’s total tax rate as of the date of adoption of this ordinance). If the bonds and notes are authorized, actual tax rates will depend upon, among other factors, the assessed valuation of taxable property, prevailing interest rates, the market for the City’s bonds and notes and general market conditions at the time that bonds and notes are issued.
The estimated tax rates and other statements contained under this caption are (i) based on certain assumptions (including assumptions concerning prevailing market and economic conditions at the time(s) of issuance of the bonds and notes), (ii) subject to change to the extent that actual facts, circumstances and conditions prevailing at the time that the bonds and notes are issued differ from such assumptions and projections, (iii) provided in Ordinance No. 20160818-023 solely in satisfaction of the requirements of Section 3.009, Texas Election Code, and for no other purpose, without any assurance that such projections will be realized, and not intended to give rise to a contract with voters or limit the authority of the Council to issue bonds and notes in accordance with the proposition submitted pursuant to Ordinance No. 20160818-023.