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.

Source :  Kxan

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