Project Connect Funding
Financial and Tax Bill Impact
The City of Austin is one of multiple taxing entities to which property owners pay property taxes annually. Approval of Proposition A would dedicate 8.75 cents of the City’s property tax rate revenue to the Austin Transit Partnership to fund implementation of Project Connect. If approved by voters, the Project Connect portion of the City’s property tax rate would become part of the City’s property tax rate each year.
For the typical Austin homeowner, the tax bill for the all taxing jurisdictions is based on a tax rate of $2.16 per $100 of value. If approved by voters, Proposition A will increase the tax rate by 8.75 cents, or approximately 4%; the impact on total tax bill is also approximately 4%. (See charts below)
The anticipated annual tax bill impact is based on taxable home value. Taxable home value is the appraised value of a home after property tax exemptions have been applied, such as the homestead exemption or the senior exemption. The estimated tax bill impact of passage of Proposition A is an approximation-based Fiscal Year 2020/2021 property tax rate. This property tax rate reflects assumptions about market and economic conditions and may be subject to change.
2020 Austin Median Home Value (after homestead exemption) - $326,368
|Home Value||Anticipated Annual Impact||Anticipated Monthly Impact|
If approved by voters, the total tax rate would change from $2.16 per $100 valuation to $2.25 per $100 valuation. The graphic below shows the Proposition A tax rate impact, based on approved rates for Austin ISD ($1.1084), City of Austin ($0.466), Travis County ($0.374359), Travis County Healthcare District ($0.110306), and Austin Community College ($0.1058).