The Austin City Council approved a property tax rate of $0.574017 per $100 property valuation for the 2025–26 fiscal year. The rate is 5 cents higher than the voter-approval rate and would fund or expand programs that increase housing affordability, reduce homelessness, improve parks and recreation, enhance public health and safety, and maintain the city’s financial stability. Last year’s tax rate was $0.4776 per $100 valuation. The measure, part of the city’s $6.3 billion budget, exceeds the state’s limit on tax revenue growth and therefore requires voter approval. If approved, it would cost the owner of an average $500,000 home about $300 more per year. City officials say the increase is needed to close a $33 million budget shortfall.
