AUSTIN (KXAN) — Austin metro ranked in the top 15 American cities with the highest property taxes, according to a report by Construction Coverage. The report ranked Austin-Round Rock-Georgetown at No. 13.
According to the report’s findings, Austin metro’s effective property tax rate for owner-occupied homes was 1.4%.
The report said the median property taxes paid for owner-occupied homes in Austin metro was $6,397, the median owner-occupied home value was $397,100 and the median household income was $86,530.
Other large Texas metros ranked in the top 15 were:
- Dallas-Fort Worth-Arlington at No. 6 with a 1.6% property tax rate
- Houston-The Woodlands-Sugar Land at No. 7 with a 1.6% property tax rate
- San Antonio-New Braunfels at No. 10 with a 1.5% property tax rate
Rochester, New York, was ranked at No. 1 with an effective property tax rate for owner-occupied homes at 2.4%.
According to the report, property taxes are usually calculated as a percentage of the assessed value of a property, an estimate that taxing authorities typically update every few years or when the property is sold.