Analysis of Austin Area Taxes
The following Austin area tax analysis was prepared by The Blunt Company, Real Estate Valuation Consultants (512-292-9390). The information contained herein was obtained from the Travis Central Appraisal District (512-834-9138) and the Travis County Tax Collector (512-854-9473).
Texas has one of the lowest tax burdens nationally and levies neither personal nor corporate income taxes. In 1985, a 1% retail sales tax was approved by Austin's voters for the funding of the Capital Metropolitan Transportation Authority (Capital Metro). There is also a 7% state retail sales tax. For most properties located within the Full Purpose Jurisdiction of the City of Austin, the 2007 composite tax rate per $100 of assessed value for the Austin area (city and county) was $2.1531 which represented a decrease of 14.74% from the previous year of $2.5254. This tax rate was the lowest since 1988. The prevailing tax rates and assessment ratios are comparable to similar sized cities throughout Texas. The table and graphs below outline the aggregate assessed values before exemptions for Travis County from 1985 to 2007 as well as the composite tax rates (i.e., combined rates for Travis County, City of Austin, Austin I.S.D. and Austin Community College District for 1985 to 2007. It should also be noted that the Travis County tax rate reflects the Travis County Hospital District tax implemented in 2004.
It should also be noted that the 1991 A.I.S.D. tax rate includes the County Education District (CED) portion of $0.8537/$100 assessed value and the 1992 tax rate for the A.I.S.D. includes the CED portion of $0.8983/$100 assessed value. However, in 1993, the CED was abolished.
The table below exhibits historical aggregate assessed values (1985-2007) before exemptions for Travis County as well as historical composite tax rates for the City of Austin for the same time period.