Home values are up 9 percent on average in Travis County this year, with the average market value of a property with a homestead exemption increasing to $387,537 from $355,312 in 2015. That likely means higher taxes for homeowners, although taxing entities such as the city of Austin and local school districts have yet to set their new tax rates.
That’s slightly less than last year when average home values increased 11 percent, the Austin American-Statesman reported. The values are based on preliminary numbers from Travis Central Appraisal District and could change.
Total taxable value for Travis County in 2016 is $164 billion, up from $137 billion last year, which a TCAD official attributed to an increase in commercial values.
Housing affordability remains one of the most-cited issues facing Austin, along with traffic congestion. With the population boom showing no sign of slowing,both are expected to worsen unless government and business leaders can do something to reverse the trends.
Source: Austin Business Journal,