Travis County approves slightly lower tax rate

A lower tax rate combined with higher home values will mean a larger tax bill for Travis County residents in the next fiscal year. The Travis County Commissioners Court on Tuesday unanimously approved the new tax rate of 30.4655 cents per $100 valuation – about 1.4 cents less than than the current tax rate. The new rate combined with rising property values will increase taxes $86.18 for the average homeowner in 2023-24. The vote included an increase in homestead exemptions from $110,000 to $124,000 for seniors and people with disabilities. This will shave an average $42.65 off next year’s tax bill compared to the existing exemption. The new tax rate will lead to a county budget of $1.3 billion – 9.8 percent larger than the 2022-23 budget. Several county priorities including mental health diversion, overdose prevention, transportation and salaries will receive additional funds.