The Lake Travis ISD Board of Trustees approved a tax rate of $1.074 per $100 valuation for the 2023-2024 fiscal year at its August 2023 meeting. This will be the lowest tax rate ever for the district and comes with an adopted budget $15 million lower than the 2022-2023 fiscal year.
A typical home in Lake Travis ISD is expected to pay about $600 less this year as a result of the adopted rate, according to Community Impact. Even with the low rate, the district was able to approve a three percent pay raise for all staff, plus it added additional staff positions.
The state also passed property tax relief, upping the typical homestead exemption from $40k to $100k. It will be voted on statewide in November 2023 and could save homeowners additional hundreds per year.