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Monday, December 23, 2024

Analysis: Travis County effective property tax rates outpaced the national average in Q4 2023

Realestate5

Property owners in Travis County paid 2.2% of the value of their homes in property taxes in the fourth quarter of 2023, which is more than 1.9 times the national average, according to the real estate analysis posted by North Austin News.

The median sales price of a Travis County home in the fourth quarter of 2023 was $373,023, based on data from the 1,066 properties sold during that time. In 2023, the median tax bill for the county was $8,056, which is 2.2% of the median value of the homes that were taxed.

This is 1.9 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Travis County real estate data showed homeowners in Elgin, Point Venture, and Manor paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Elgin with some other cities belonging to Travis County by their median effective property tax rate, calculated using sales and property tax data from the fourth quarter of 2023.

CityQ4 2023 SalesQ4 2023 Median PriceMedian tax 2023Effective tax rate
Elgin11$135,200$4,9723.7%
Point Venture4$227,847$8,0593.5%
Manor47$222,593$5,4802.5%
Pflugerville71$284,326$6,8662.4%
Austin734$375,234$8,4662.3%
Rollingwood3$1,065,154$23,1422.2%
Dessau Fountains2$264,880$5,7402.2%
Lost Creek12$772,613$17,2662.2%
Hudson Bend6$345,249$7,3502.1%
Wells Branch3$299,077$6,1882.1%
Hornsby Bend3$166,459$3,4842.1%
Spicewood24$512,940$10,9592.1%
Lago Vista19$284,976$5,4391.9%
Cedar Park15$570,726$10,8581.9%
Lakeway28$523,922$9,4841.8%
Barton Creek8$1,479,790$27,1571.8%
The Hills4$698,215$11,0161.6%
Leander11$510,400$7,9771.6%
Briarcliff10$399,977$6,2881.6%
Bee Cave8$697,895$10,3021.5%
West Lake Hills7$1,422,410$21,5761.5%
Shady Hollow7$520,036$7,9231.5%
Dripping Springs4$361,476$5,3331.5%

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