Austin officials are pitching voters on a $7.1 billion transportation plan that includes a downtown subway system, light rail, electric bikes, and more. But will the plan’s tax increase scare voters away? It’s certainly possible after seeing the numbers.
According to Community Impact, the average Austin-area homeowner will pay hundreds of dollars more per year in city taxes if voters agree to a tax rate increase of 8.75 cents per $100 of value.
Exactly how much more depends on the property’s value. Per the article, a home valued at $250,000 will see a tax increase of $197 per year, or $16 per month. A home valued at $362,000—which is the median home value in the area—will see its tax bill rise by $285 per year, or approximately $24 per month. For a home valued at $500,000, a resident will pay an extra $394 per year, or about $33 per month.
Some might argue that those costs are manageable; but let’s not forget that the average Travis County homeowner already pays a staggering $8,430 per year in total taxes. Piling on further is a tough sell, especially since we’re in the middle of an economic calamity.
Learn more at www.texaspolicy.com/projectconnect