Most property owners in Travis County could expect a higher property tax bill if commissioners adopt last week’s revenue estimate from the county auditor’s office.
The proposed tax rate would go up to compensate for a drop in investment earnings and lower taxes from an anticipated decline in new construction in the county, which includes Austin and its fast-growing suburbs.
County officials said construction activity is expected to fall to $1.7 billion in 2011, down significantly from $2.9 billion in 2010.
The higher rate would raise the property tax on an average $219,520 home by $61 per year.
Property tax revenue would rise to an estimated $336.6 million in fiscal 2011, up from $322.3 million in fiscal 2010. Total general fund collections are projected at $483.2 million next year, up from $455.7 million in the current fiscal year.
Travis County commissioners are expected to adopt the final tax rate and the budget for fiscal 2011 in late August.
