Austin property taxes may be on the rise for some residents next year. However, the reason is not because of an increase to property tax rates.Residents of Williamson county, Texas (which includes parts of Austin) will see an increase in their property tax bill next year. However, this is not due to an increase in the tax rate. In fact, the rate was actually lowered.
The county’s new budget lowers the property tax rate by three-quarters of one cent, and it includes funding for more than 700 new voting machines and sets aside $12 million for capital projects.
So why are some Austin property taxes on the rise? Why will the average resident pay $50 more in property taxes next year? The answer is simple. It’s not that the rate is increasing. The value of property is.
If the value of property increases, the tax bill will be larger even if the percentage is slightly lower. This is welcome news because the city of Austin is aiming to increase taxes slightly. Combined with the county increase, Austin may be going a little tax crazy. Thankfully for residents, the increase should be slight.
Austin is in the midst of an economic boom of sorts, as a growing tech sector is driving more workers and businesses to the city. This is great news for homeowners who will likely see their property values continue to increase. In the meantime, however, they can expect their Austin property tax bills go up as well.
It’s All About Location
When it comes to cost of living, your location matters. Austin property taxes notwithstanding, there’s a lot to like about living in the city. Maybe that’s why so many people are moving there.
However, before you pick up and decide to move to another location; it’s important to determine the impact that move will have on your cost of living. That’s where City vs City can help.
Austin property taxes are one consideration, but there are others. How about the cost of housing in general? Transportation? State and local taxes? Not all cities are created equal when it comes to cost of living. That’s why City vs City calculates all these costs and more to give you a side by side comparison of costs.
Simply input your data and select the zip codes you are moving to and from. City vs City’s powerful technology will run the numbers and give you a comparison. Below, check out an example of how a move from Chicago to Austin would impact your costs.
As you can see, both cities are expensive to live in. However, Austin comes out slightly ahead of Chicago in terms of cost of living.
If you’re thinking of moving to Austin, Chicago, or elsewhere: don’t make a move without downloading City vs City first.