Last month and this month, Cedar Park City Council, Leander ISD, and Williamson County have decreased their tax rates. This will impact homeowners as they’ll have to pay more in property taxes due to the rising property valuations.
Cedar Park Homeowners
Cedar Park City Council approved a property tax rate of $0.432 per $100 of property valuation. This is a one-and-a-half-cent drop from last year. The city agrees this is significant due to the large increase in property value in just last year alone. This makes it the 9th year that Cedar Park has lowered the tax rate. This also makes it the lowest tax rate Cedar Park has seen since 1998.
When combining the $5,000 homestead exemption, Cedar Park homeowners will see about a $9.62 monthly increase in their city property taxes in 2022, the city said. Property taxes paid to the city are only 18% of the total property tax bill. The rest goes to the school district, county, and other taxing entities.
Leander Homeowners
Last month, Leander ISD decreased its tax rate of $1.337 per $100 valuation. This will be the third year in a row there’s a deduction. But due to the increasing home values in the area, as we’re still in a seller’s market with low inventory and high competition, and home prices, the average LISD homeowner will have an increase of about $56 in annual taxes with this new rate.
The new rate is a $0.814 decrease compared to last year’s fiscal year, or a 5.7% decrease. %0.872 is dedicated to the maintenance and operations fund, and $0.465 to the interest and sinking fund. This new rate will collect an average of $4,939 in property taxes.
Williamson County Residents
Also, earlier last month, the Commissioners Court of Williamson County approved the total county budget and a new tax rate. The new total tax rate for the tax year 2021 is $0.440846. This is a slight decrease compared to the current tax rate of $0.458719. Combining this tax rate and property tax exemptions, the average county homestead tax bill will decrease by $14.
These tax rates will impact Cedar Park, Leander, and Austin areas in Travis and Williamson counties. If you need help buying or selling in these areas, contact Cummings Team® by clicking here or call or email: 512-619-3186 | cummingsteam@purerealty.com.