The Travis Central Appraisal District now estimates that his three-bedroom home would sell for nearly $461,000 on today’s market. Since then, its market value has more than tripled. He bought his home in Southwest Austin in 2013 for around $155,000. That’s because while the amount your home would sell for can go up any amount year over year, the state limits how much of that value you can be taxed on.Ĭonsider the example of Matt Largey, projects editor at KUT. If your property tax bill does go up - and we don’t know that it will - it’s almost certain it won’t increase by anywhere close to that amount. Does that mean my taxes will go up that amount? The appraised value of my home went up more than 50% in the last year. This is called your “taxable value,” and it is probably much lower than the estimate of what your home would sell for - unless you bought your house in the past year. According to the Travis Central Appraisal District, on average, appraised values rose 56% over the past year.īut if you live in the house you own, and have filed what is called a homestead exemption, the amount you have to pay taxes on is entirely different.
The appraisals are a lot higher than they were last year. This number, known as your appraised value, estimates what your property would currently sell for in Austin’s record-breaking housing market. People who own property in the Austin area recently received new valuations from the local appraisal district.