Following on our massive discussion about downtown development and existing homes, the Statesman reports that property taxes in Travis County are about to increase by the largest amount in recent memory.
Most homes will receive taxable values that are 15 to 20 percent higher. State law limits new taxation to the first 10 percent of the reappraised value, but tax on the remainder is added in future years.
I’ve noticed in my many visits to TravisCAD over the years that the county appraised value lagged behind the actual sale value of homes by roughly 15 to 20 percent, but I just assumed that’s the way things worked. Is Travis County that out of whack compared to other places?