Austin budget vote, likely triggering tax rate election, to happen this week

AUSTIN (KXAN) -- As soon as Wednesday, Austin city council could approve its budget for next fiscal year, and set a tax rate high enough to trigger an election.

Because of a 2019 state law, taxing entities cannot raise the property tax rate more than 3.5% from the year prior without triggering a tax rate election, or TRE.

That’s where the city manager’s base budget sits — at the 3.5% rate allowed without triggering a TRE — which would still mean a total increase of $218.16 annually for the “average” ratepayer and taxpayer.

City council and the mayor are considering asking voters to go higher than that, triggering a tax rate election in November, the month after the budget goes into effect.

How much would a TRE cost you?

Before we get to the tax rate election proposals on the table, be