Austin City Manager proposes 8% jump in property tax!

[Neil Narayan]

The new budget proposal would raise property tax revenue by 8% -- the highest cities are allowed without voter consent. Luckily starting the next year, a new state law limits the amount cities can raise property tax revenue without an election at 3.5%

https://cbsaustin.com/news/local/austin-city-manager-proposes-8-percent-jump-in-property-tax-in-new-budget?fbclid=IwAR0GxCGnuAMnNx6s4tXHAAdyL6bfQ-sD4LrCzC1XFcfu0fyUKIIUbdvDaEU

[Neil Narayan]

I'm keeping my fingers crossed that it doesn't pass. Sounds like a last ditch effort to shove in the maximum increase before the new law caps it at a lower rate for increases. If City needs more money STR owners are happy to pay via occupancy taxes if they make the process easier to get a license.