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Property Taxes

Combined Tax Rate
City of Georgetown $0.42000
Williamson County $0.466529
Georgetown ISD $1.4090

Property Tax Per Capita

Revenues – Property Tax 2014 2015 2016 2017 2018
Total Property Tax 19,641,178 21,207,771 23,468,869 25,442,837 28,033,429
Population 51,479 53,339 56,208 58,723 60,642
Per Capita Revenue 382 398 418 433 462

 

 

Assessed Value

Assessed Value Amount
FY2014 4,598,213,076
FY2015 5,127,918,626
FY2016 5,985,651,469
FY2017 6,338,819,024
FY2018 7,304,885,572

 

Components of Tax Rate

Fiscal Year Operations & Maintenance Debt Service
FY2014 0.21597 0.22353
FY2015 0.20738 0.22662
FY2016 0.20716 0.22684
FY2017 0.19666 0.22734
FY2018 0.192660 0.227340

Truth in Taxation

Truth in Taxation Amount
Effective Rate 0.4000
Rollback Rate 0.4320
Adopted Rate 0.4200

The adopted rate is 42 cents per $100 valuation, and represents the lowest rate in the greater Austin MSA with a population over 20,000. The effective 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 42 cents would produce $420 in property tax revenue. If in the following year, the home is now valued at $105,000, the effective rate would be 40 cents to produce the same $420 worth of revenue. The effective rate enables the public to evaluate the relationship between taxes for the prior year and for the current year. The rollback 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 rollback rate is equal to the effective rate times 8%, or in this example 43.2 cents for FY2018.