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Tuesday, November 5, 2024

Analysis: Travis County effective property tax rates outpaced the national average in Q1

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Property owners in Travis County paid 2.3% of the value of their homes in property taxes in the first quarter of 2024, which is more than 2 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 first quarter of 2024 was $370,309, based on data from the 1,184 properties sold during that time. In 2024, the median tax bill for the county was $8,339, which is 2.3% of the median value of the homes that were taxed.

This is 2 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 Cedar Park and Elgin paid the highest rates.

The above article calculates the effective property tax rate for 2024 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 Cedar Park with some other cities belonging to Travis County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2024.

CityQ1 2024 SalesQ1 2024 Median PriceMedian tax 2024Effective tax rate
Cedar Park15$417,900$11,2392.7%
Elgin13$191,797$5,1462.7%
Pflugerville86$271,376$7,1072.6%
Point Venture3$322,900$8,3422.6%
Manor46$225,648$5,6722.5%
Austin848$386,821$8,7632.3%
Wells Branch3$278,547$6,4052.3%
Lakeway32$454,034$9,8162.2%
Hudson Bend4$351,232$7,6082.2%
Lago Vista23$257,392$5,6302.2%
Rollingwood2$1,075,859$23,9542.2%
The Hills5$529,164$11,4032.2%
Hutto2$398,406$8,7472.2%
Spicewood33$507,472$11,3432.2%
Barton Creek10$1,314,895$28,1102.1%
Lost Creek6$908,555$17,8722%
Briarcliff3$346,500$6,5091.9%
Bee Cave9$599,610$10,6641.8%
Leander17$472,825$8,2571.7%
Manchaca5$323,067$4,8501.5%
Dripping Springs7$364,526$5,5201.5%
Shady Hollow2$580,795$8,2011.4%
Marble Falls2$754,310$6,5060.9%
West Lake Hills5$2,799,623$22,3330.8%

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