Lakeway, Texas Property Taxes
Real Estate Values and Property Tax Valuation in Lakeway, Texas
The city of Lakeway, Texas has a total of 4,463 properties with a cumulative value of $2.5B. This accounts for 1.45% of all real estate value in Travis County. Property taxes in Lakeway totaled $37.6M, with an average homeowner paying $8,421 in property taxes compared to the county average of $8,198. The average property tax rate in Lakeway is 1.51%, while the county average is 1.73%. Property taxes are based on the assessed value of the property, which is determined by the local taxing authority.
The property tax timeline in Texas begins on January 1st, when the property valuation date is set. Property value notices are issued between April and May, and the property tax appeal deadline is May 15th or 30 days after the notices are issued. The real property tax bill is due on January 31st for the preceding year's gross tax bills.
Updated August 23, 2023
| Important Links | |
|---|---|
| TexasFile Clerk Records | - |
| Travis Clerk | (512) 854-9188 |
| Travis Appraisal District | (512) 834-9138 |
| Important Dates | |
|---|---|
| Real Property Tax Bill Due (1st of #): | January 31st, Gross tax bills for preceding year |
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | April - May |
| Property Tax Appeal Deadline: | May 15th or 30 days after notices are issued |
| Property Tax Bills Issued: | October 1st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Lakeway, Texas
Residential Property Tax by ZIP code in Lakeway, Texas
Lakeway property taxes are slightly lower than the average for Travis County, with an average rate of 1.51% compared to 1.73%. This difference is due to the fact that Lakeway is a relatively affluent area, with higher home values than other parts of the county.
Property tax rates in Lakeway also vary by ZIP code, with the highest effective rate being 1.89% in the 78738 ZIP code and the lowest being 1.49% in the 78734 ZIP code. This variation is due to differences in home values across ZIP codes, with higher home values leading to higher effective tax rates.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each ZIP code in Lakeway, Texas. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78734 | $301,148 | $391,904 | $486,010 | $634,574 | $855,700 |
| 78738 | $309,910 | $378,570 | $474,348 | $596,334 | $723,618 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each ZIP code in Lakeway, Texas.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78734 | $3,788 | $5,394 | $7,237 | $9,514 | $13,551 |
| 78738 | $3,779 | $5,373 | $8,068 | $13,145 | $15,756 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78734 | 1.26% | 1.38% | 1.49% | 1.50% | 1.58% |
| 78738 | 1.22% | 1.42% | 1.70% | 2.20% | 2.18% |
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Real Estate Values in Lakeway, Texas
Average Home Value in Lakeway, Texas
Last updated: August 2023
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Housing Expenses in Lakeway, Texas
Housing expenses are a major part of the average household budget in the state. In fact, housing expenses account for nearly one-third of total expenses for the average household. As inflation continues, housing expenses continue to rise, eating up an ever-increasing portion of the household budget. Property taxes are the second largest component of housing expenses for the average property owner in the state, making up a significant portion of the total housing expenses. As housing expenses continue to rise, it is important for households to budget carefully and plan for the future to ensure they can afford their housing expenses.
Monthly Consumer Expenses for South region
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