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Tuesday, November 5, 2024

Analysis: Travis County effective property tax rates outpaced the national average in Q2 2023

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Property owners in Travis County paid 2.1% of the value of their homes in property taxes in the second quarter of 2023, which is more than 1.9 times the national average, according to the real estate analysis posted by Austin News.

The median sales price of a Travis County home in the second quarter of 2023 was $391,111, based on data from the 1,183 properties sold during that time. In 2023, the median tax bill for the county was $8,056, which is 2.1% 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 and Pflugerville 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 second quarter of 2023.

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Elgin10$183,830$4,9722.7%
Pflugerville84$273,991$6,8662.5%
Wells Branch2$266,835$6,1882.3%
Manor33$235,500$5,4802.3%
Spicewood28$478,907$10,9592.3%
Lago Vista18$252,596$5,4392.2%
The Hills11$495,463$11,0162.2%
Briarcliff7$280,424$6,2882.2%
Dessau Fountains2$265,897$5,7402.2%
Austin847$399,460$8,4662.1%
Point Venture5$389,551$8,0592.1%
Round Rock3$313,647$6,5352.1%
Lakeway36$486,038$9,4842%
Lost Creek13$863,390$17,2662%
Cedar Park9$561,000$10,8581.9%
Dripping Springs8$287,125$5,3331.9%
Shady Hollow3$437,250$7,9231.8%
Jonestown2$380,605$6,4761.7%
Barton Creek7$1,559,363$27,1571.7%
Bee Cave13$591,993$10,3021.7%
Manchaca6$283,347$4,6861.7%
Leander20$476,140$7,9771.7%
Volente3$814,938$13,2871.6%
Hudson Bend2$475,165$7,3501.5%
West Lake Hills8$1,718,204$21,5761.3%

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