Property tax with condo regime - Austin TX

[Amenity Applewhite]

Hi, I asked earlier about building a condo ADU and got some great help with that. Now I am looking into what the implications are as far as property taxes. (

Our original house has ~$5k annual property taxes. The land value is $200k and the house value is $150k. If I build and sell a condo on the other side of the lot, I would assume that the taxed value would remain the same (aside from the regular annual increases) for the original home and that the new owner would pay taxes only on the value of the second home ($300k) and no property taxes. 

Is this correct?