Austin underestimates budget and is 27.5 million in the hole

Real Estate Agent

Apparently someone at the city underestimated the 2008 budget.   Although the revenue increased it looks like the increased cost and the lowered Austin real estate taxes will put Austin in the hole by 27.5 million for 2008.  The city might end up raising property taxes for 2008.  Considering the city portion of property taxes in Austin are 1/5 of the total tax bill and school taxes are set to be lowered the overall tax bill might still go down.  Additionally, since most people wound not notice an increase in the real estate tax rate because other taxes are being lowered is another reason Austin might do that. 

To read more about Austin budget issues Austin budget deficit


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Ki Gray

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