In May 2025, almost 20% of homes on the market experienced price reductions, suggesting a cooling trend in the housing market. While this might offer relief to homeowners facing rising property taxes, the situation is complex. Many homeowners will not see immediate reductions in their tax bills as assessments are based on past sales and are slow to reflect current market conditions. As a result, taxes may remain high even when property values decrease, leading to frustration and calls for reform.
"When taxpayers get a bill from my office, those taxes owed reflect a value done by professional licensed appraisers at the Travis Central Appraisal District. That appraisal was done several months prior to getting their bill. As we know, markets are dynamic, and there is not a world in which cost estimates for schools and roads can be as fluid as the real estate market."
Even as prices dip in some areas, many homeowners won't see a drop in their tax bills any time soon—a frustrating outcome, but one rooted in a system that was built to prioritize stability over short-term responsiveness.
Just as it took years for property tax bills to catch up with skyrocketing home prices during the pandemic, it will take just as long-if not longer-for them to reflect today's cooling values.
In places like Austin, TX (which is in Travis County), this lag can be especially painful. The average property tax bill jumped $1,123 for the 2024 tax year."
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