Austin Property Tax Calculator

When will the property tax expire in Austin?

In Travis and Williamson County, the key deadlines for paying property taxes are:

• January 31: The last day of your current annual tax bill being paid without penalty or interest. If this date falls on weekends or holidays, the deadline will be transferred to the next working day. Tax bills are usually mailed before October 1st.
• February 1: Penalties and interest begin to accumulate. Travis County has a fine of 6%, which increases monthly to July, plus a monthly interest of 1% .

If you are eligible for a quarterly payment plan (such as exemptions and homestead accounts for over 65 years old), see your county’s schedule, as the first period should be conducted by January 31.

How much is property tax paid in Austin?

Since Texas does not have state income taxes, local property taxes are one of the main ways Austin pays for important local services, including:

• Public schools (such as Austin ISD)
• Police, Fire and EMS Services
• Road, street and traffic signals
• Parks, libraries and community centers
• Municipal and county government actions
• Infrastructure such as water, sewers and garbage services
• Repay local bond projects (such as buses and school improvements)

How much does it cost to buy a home in Austin?

How many houses can you afford?

Austin’s affordability depends on your income, debt, credit score and mortgage rate. In the Austin area, where the median household income is about $91,000, many buyers can afford homes in the range of $300,000 to $350,000 using standard debt-to-income guidelines. However, with the median home price in Austin exceeding $500,000, many buyers (especially in popular neighborhoods) need dual income or additional savings to qualify.

Use Homelight’s Home Affordability Calculator to estimate your budget based on your income, debt and current interest rates.

What down payment do you need?

According to NORADA Real Estate Investment, the average down payment for homes in Austin is 18%. However, the down payment amount varies greatly depending on the type of loan and credit score. Many buyers lower the price from 5% to 15%, with FHA and some regular first-time buyer loans available for 3%. For a $500,000 home, your down payment is what you look like:

• 3% drop = $15,000
• 5% drop = $25,000
• 10% drop = $50,000
• 20% drop = $100,000

Try Homelight’s down payment calculator to see how different down payments affect your monthly payments and loan size.

What is the closing cost of Austin?

Buyers in Austin can expect that the closing cost will be about 2% to 5%. These may include:

• Loan origin and underwriting fees
• Property insurance and custody fees
• Evaluation and inspection costs
• Prepaid property taxes and homeowner insurance
• Submission and record fees

For a $500,000 home, this means an estimated closing price of $10,000 to $25,000. Use Homelight’s turn off fee calculator to get personalized estimates based on your expected purchase price.

How to find a trusted Austin real estate agent

Buying a home in Austin is a big investment, and working with the best performing local agents can make everything different. Experienced Austin Agents can help you understand local tax rates, school districts and development trends and guide you towards communities that suit your lifestyle and budget.

Homelight’s free agent matching tool uses data from over 27 million deals and thousands of verified reviews to match you with an Austin agent based on actual performance, rather than paid ads.

Tell us some information about your purchasing plan and match Austin-area agents who know the community you are considering and can guide you from search to closing.