Austin Real Estate

I am curious about what the property tax assessment for Austin will look like in 2020. I was chatting with a friend who lives in Austin and apparently the assessors have been candid that there is lower tolerance to listen and act on any appeals for 2020.
Have you felt the need to appeal property tax increases?

What is the average rate out there?

Is a norm to appeal the property tax. There are many tax agents* soliciting to help you argue for a lower assessment.

*Many agents are ex-tax assessors.

On the city websites, there are online submissions for appeal. Is easy and they always obliged with lower assessment. However, I realize this year assessment is pretty reasonable so I appeal for 2 rentals only.

Btw the city has wise up. Previously they keep the assessment for land constant and increases the assessed value of improvement. Now, they increase the assessed value of land and in some cases drop the assessed value of improvement. So is harder to argue for a lower assessment.

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Depends on zip codes. For example,

Travis county
78759… 2.258%
78727… 2.145%.
78660… 2.790%

Williamson county
78613… 2.468%
78717… 2.338%
78641… 2.461%

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This helps. Thanks!

There are two turnover (excuse is buying a new house) in tenants, both put on market with $100 increase and rented out in 2 days.

Rentals in Austin is HOT.

Have not been on the market for purchasing a house. However according to zillow, is very hot, yoy of 8.7% :money_mouth_face: No vaporware unicorns? No issue. Plenty of smaller startups.

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@hanera

https://thetexan.news/austin-proposes-25-percent-property-tax-rate-hike-to-fund-10-billion-public-transit-plan/

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Doesn’t affect my Primary. However a few rentals fall within the city of Austin :exploding_head:

The current metro rail is hardly used, why need more rails?

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Not used much probably because it doesn’t go to places people want to go? Build, baby, build.

Does Elon need some need highways and stuff?

The plan is talking about railways only.

Over 80 percent of the project’s listed costs come just from the three light rail lines and the transit tunnel.

Light rails not relevant to Elon. The suspected terafactory site is in Williamson county which already has railway and highways. Unless that is not the site, the site doesn’t benefit from this plan. The site is in the Northeast exurb whereas the plan is about infra for DT and nearby suburbs.

To finance the light rail lines, a new commuter rail line and a myriad of other improvements, officials estimated the city’s tax rate would need an 11-cent increase. That amounts to a 25% increase to the city’s portion of property tax bills…

Is not 25% increase in overall property tax bill.

If it is Travis county negotiating with Tesla, the site won’t be at Hutto which is under the jurisdiction of Williamson County. Or is it the city of Austin? These journalists might not get the info right.

City of Austin might be so desperate to have Tesla that it is burdening the residents with the building of the silly tunnels (hope is not a contract with Boring Company).

Got to sell my rentals in the city of Austin/ Travis County once the price pop up :smiling_imp: City of Austin is fast becoming another 7x7. Keep jacking up property assessment value by double digits and yet screwed up road infrastructure. Rail is dead! With ridesharing and EV/AV, why need rails? Robbery, raping, virus, … my god. No to Rail.

Travis County reportedly considering incentives deal with Tesla

The land is currently occupied by a sand and gravel mining site, but Tesla is buying the location for just over $5 million which was revealed in an application with the Texas Comptroller’s office.

Tesla describes the project in the application:

“Tesla is evaluating the possible development, design, and construction of an electric vehicle manufacturing plant in Travis County within the Austin Green property. This site is approximately 2,100 acres and located at the intersections of SH-130 and Harold Green Road. The property is currently a sand and gravel mining site owned and operated by Martin Marietta and Texas construction projects. The Martin Marietta assets will operate for a period of time but will be relocated in the future to allow for buildout of the site. The timeline for the relocation will be determined at a later date.”

Electrek has learned that they have already started that process of relocation and Tesla’s construction team is already getting ready to build on at this location, which is near the Austin airport.

The construction of the new Tesla factory is set to commence in Q3 of 2020 pending all approvals.

Tesla is seeking approval from the local school district to forgive up to $68 million on its property tax bill over 10 years.

https://electrek.co/2020/06/18/tesla-acquires-land-austin-build-factory/

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$5M doesn’t even buy you 2 lots in PA.

@hanera You need more property in BlackHawk area - no traffic from 130 to this new site :slight_smile:

That part is labeled as 45 not 130 :slight_smile: Very near to Airport. Don’t have any rentals in South and East Austin. If that is the site, definitely opposed the public infrastructure plan especially no contract with Boring company for the tunneling.

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City of Austin/ Travis County is bending down to be f… by Elon. Please don’t drag me along. Will sell my rentals in Travis County! City of Austin is really bad, SIP till Aug 15, so damn high number of confirmed cases/ deaths, spent so much $ and copy 7x7 increasing homeless too! Should vote in the Republicans.

Mine are nearby :slight_smile: Falcon Pointe is nearer to 45/130 than BlackHawk. Supposed to be the bypass for those staying in the North to go to San Antonio, but people don’t like to use it.

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BlackHawk and Falcon Pointe neighborhoods don’t have to suffer the 25% tax hike from city of Austin because of the public transportation plan. Pflugerville is part of Travis County but is not part of city of Austin :wink:

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Suttle, Tesla’s local attorney, said Tesla will not be seeking incentives from the city of Austin. However, he said that, along with incentives from the Del Valle school district and Travis County, assurances of a “smooth permitting process at the city and county levels will be key in Tesla’s decision to locate in Austin.”

Only idiots believe Suttle. No :smiling_imp: to public transportation plan proposed by city of Austin.

Compared with California, Boyd said, Texas holds significant business advantages, including lower taxes and operating costs and a lower cost of living for recruiting talent.

I know :+1: