« Gary Bradley's old castle is vacant | Austin Real Estate Blog Home | April statistics for the Austin Real Estate market are out »

Austin Tax Appraisals Go Up

So the tax appraisals are out. And a lot of people are seeing increases of 15 to 20 percent. So you can take some kind of weird comfort in the fact that you are not alone. If for some reason you take comfort in that kind of thing. So what happened? Basically our appraised values have been lagging the average sold price for a few years. Since our taxes go to the state as well as the city the state of Texas keeps an eye on such things. And Texas has said unless we get our appraised values in line with the average sales price they are withholding education funding. So if you feel like egging a government office you are probably looking for the state capitol and not the City Hall.

Ok there is good news. Well kind of good news. Well there is a possibility of good news. Austin is basically taking the position of the state is forcing us to do this. And at this time Austin doesn’t not need a 15 to 20 percent increase in tax revenue. So there is a push for Austin to decrease the tax rate since they increased the appraised value. How likely this is you can form your own judgment.

What is the other possibility of good news? While the state is forcing Austin to pay more property taxes they are talking a lot about how Texans should pay less property taxes, or at least Texans who don’t live in Austin. And to some degree Rick Perry election chances depend on his ability to lower property taxes at the state level.

So basically our appraised values went up and there is a chance or tax rate will go down from the action of the state or the city.

Anyway that’s my blog. I’m going to bed.

TrackBack

TrackBack URL for this entry:
http://www.escapesomewhere.com/cgi-bin/mt/mt-tb.cgi/11

Post a comment