New TravisCAD format (Austin: rental, homes, taxi)

[Trainwreck20]

Has anyone played much with the new TravisCAD.org web site? They have reformatted it quite a bit, with some things I like and some I don't (i.e. it doesn't have a concise summary of tax rates/tax bills).

Anyway, the actual tax rate portion has been moved to the 'Truth in Taxation' web site and while I like the level of detail it has, it will take me a while to digest what all is there. For each taxing unit, the page contains:

1. Last year's tax rates;
2. Tax rate that corresponds to no new income for the taxing unit;
3. Proposed tax rate;
4. Voter Approval required tax rate; and
5. Adopted tax rate.

(1) is pretty obvious and (2) is interesting but not really relevant to what I have paid in the past or will in the future. The adopted tax rate (5) is not set yet, but I assume in most cases that the proposed rate (3) will become the adopted rate as long as it does not exceed the level that requires voter approval (4).

Anyway, my homestead had a 45% increase in appraised value (capped at 10% for taxing basis) and, if the proposed taxes are adopted, I will have a 1.6% decrease in taxes for 2022. Am I missing something, or are my taxes really going to go down?

AISD shows $32 more in tax and every other taxing unit shows a small decrease in taxes collected.

FWIW, the five taxing entities that I am subject to all appear to have significant budget increases (revenue neutral compared to proposed) even though I will be personally paying less
11.6% ----AISD (53% will be 'recaptured', so budget is really going up only 5.4%)
2% -------CoA
6.8% -----Travis County Health
7.7% -----Travis County
7.6% -----ACC

[Austin97]

Originally Posted by Trainwreck20

Has anyone played much with the new TravisCAD.org web site? They have reformatted it quite a bit, with some things I like and some I don't (i.e. it doesn't have a concise summary of tax rates/tax bills).

Anyway, the actual tax rate portion has been moved to the 'Truth in Taxation' web site and while I like the level of detail it has, it will take me a while to digest what all is there. For each taxing unit, the page contains:

1. Last year's tax rates;
2. Tax rate that corresponds to no new income for the taxing unit;
3. Proposed tax rate;
4. Voter Approval required tax rate; and
5. Adopted tax rate.

(1) is pretty obvious and (2) is interesting but not really relevant to what I have paid in the past or will in the future. The adopted tax rate (5) is not set yet, but I assume in most cases that the proposed rate (3) will become the adopted rate as long as it does not exceed the level that requires voter approval (4).

Anyway, my homestead had a 45% increase in appraised value (capped at 10% for taxing basis) and, if the proposed taxes are adopted, I will have a 1.6% decrease in taxes for 2022. Am I missing something, or are my taxes really going to go down?

AISD shows $32 more in tax and every other taxing unit shows a small decrease in taxes collected.

FWIW, the five taxing entities that I am subject to all appear to have significant budget increases (revenue neutral compared to proposed) even though I will be personally paying less
11.6% ----AISD (53% will be 'recaptured', so budget is really going up only 5.4%)
2% -------CoA
6.8% -----Travis County Health
7.7% -----Travis County
7.6% -----ACC

I think what happened was that across the city all properties were up like 70%. You have a homestead so are capped at 10%. Commercial/investment properties have no homestead so they are subject to the entire increase immediately. The commercial properties are essentially absorbing all the increase.

[blakely]

Yeah, it's possible. Between homestead caps and SB-2, which caps the total collected revenue at +3.5%, this could happen. Given that property values skyrocketed, rates essentially must go down to comply with the SB2 cap.

Agree with Austin97 that it will shift more of the property tax burden to non-homestead & commercial properties.

[Trainwreck20]

Originally Posted by Austin97

I think what happened was that across the city all properties were up like 70%. You have a homestead so are capped at 10%. Commercial/investment properties have no homestead so they are subject to the entire increase immediately. The commercial properties are essentially absorbing all the increase.

Oh, totally agree that the homestead vs non-homestead change in tax bills are probably pretty wonky. I was just not expecting it to go down. I think part of the housing correction is rental property owners unloading properties that they do not want to pay taxes on and also 'cashing out' while market is high.