Dog’s Head’s properties are appraised at just over $17 million today and projected to reach nearly $27 billion by the early 2060s, meaning billions of dollars of new tax revenue could be generated by both Austin and Travis County in that period. An estimated $5.63 billion of improvements like roads and sidewalks, water and electric lines.
The TIRZ outline presented to Travis County leaders this summer would set aside 50% of county property tax revenue from 2027-61, projected at $520.2 million, for infrastructure reimbursements. Larger shares of Austin’s property and sales tax collections—75% for the first 20 years and 66% for the next 15 years—would total a projected $1.18 billion for contributions to the TIRZ.
Aside from those totals for public projects, the city and county combined would also take in a combined $1.09 billion in tax revenue for their general operations.
Put in perspective
Austin Financial Services Director Kim Olivares told county commissioners that a TIRZ is necessary for the large-scale plans, which could shift to focus mainly on lower-impact housing without public financing. Residential construction without a broader mix of uses and larger projects could also cost Austin more in the long run due to added requirements like public safety, she said, while the Dog’s Head may “struggle to develop.”
“This TIRZ creates not only a catalytic development to serve this region, it also creates a better means for the city and the county to provide services to our residents,” Olivares said.