By Bill Oakey – July 30, 2014
We know now that the $1 billion package of urban rail and road bonds would raise the debt portion of our City of Austin property taxes by 6 cents. Between 2015 and 2020, that rate would increase from .1151 to .1751. As you discuss this epic boondoggle with your family and friends, and urge them to vote against it in November, you can use the chart below to show them the taxpayer impact on their homes.
Since many readers of this blog have complained that their tax appraisals have increased dramatically in the past few years, I decided to build the chart using annual appraisal increases of both 5% and 10%. The appraisals range from a starting point of $200,000 to $500,000. The chart makes it easy to see that the cumulative level of tax and appraisal increases that Austin is currently experiencing is simply not sustainable. If all of the estimated tax increases for the various taxing entities were built into a single chart, I shudder to think how ominous it would look! So, for now, let’s just examine the taxpayer impact of the rail and road bonds.
Click the link below to see the chart.