Georgetown Finance Department

Property Taxes

Combined Tax Rate
City of Georgetown $0.374000
Williamson County $0.3381160
Georgetown ISD $1.2316000

Property Tax Per Capita

Revenues – Property Tax 2019 2020 2021 2022 2023
Total Property Tax 30,561,661 33,808,580 36,886,143 40,220,000 48,630,000
Population 62,500 72,589 79,604 81,942 83,529
Per Capita Revenue 489 466 463 491 582

Property Tax Budgeted Revenue

Fiscal Year 2021 2022 2023
Maintenance and Operation Revenue 15,976,505 17,100,000 18,700,000
Debt Service Revenue 18,750,000 23,120,000 29,930,000


Assessed Value

Assessed Value Amount
FY2019 7,830,350,417
FY2020 8,691,478,656
FY2021 9,174,336,112
FY2022 10,992,195,164
FY2023 15,076,413,021

Components of Tax Rate

Fiscal Year Operations & Maintenance Debt Service
FY2019 0.19955 0.22045
FY2020 0.19547 0.22453
FY2021 0.19318 0.22481
FY2022 0.161319 0.239681
FY2023 0.132190 0.241810

Truth in Taxation

Truth in Taxation Amount
No New Revenue Rate 0.320961
Voter Approval Rate 0.374762
Adopted Rate 0.374

The adopted rate is 37.4 cents per $100 valuation, and represents one of the lowest rate in the greater Austin MSA with a population over 20,000. The no new revenue tax rate is the rate the City would need to charge in order to produce the same amount of property tax revenues as last year while using the new valuations of the current year. Typically, property values appreciate from year to year. In most years, the increased value of a property means a lower tax rate could produce the same amount of revenue. For example, a home valued at $100,000 with a tax rate of 37.4 cents would produce $374 in property tax revenue. If in the following year, the home is now valued at $105,000, the effective rate would be 35.6 cents to produce the same $374 worth of revenue. The no new revenue rate enables the public to evaluate the relationship between taxes for the prior year and for the current year. The voter approval rate is the maximum tax rate the City can set before the taxpayers can petition for an election to reduce the tax rate. After adjustments for debt calculations, the voter approval rate is equal to the effective rate times 3.5%, or in this example 37.4762 cents for FY2023.

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image: City of Georgetown Texas logo