Property Tax Glossary

Account number

The unique identifier the Tax Office uses for your property. Found on every statement and required when making payments. Sometimes called the parcel number.

Appraised value

The market value of your property as determined by the Travis Central Appraisal District. Used as the starting point for calculating your tax bill, before exemptions or limits are applied.

Assessed value

The appraised value minus any exemptions or limitations (such as the homestead cap) that apply to your property. The assessed value multiplied by the tax rate equals your tax bill.

Homestead exemption

A reduction in the assessed value of your primary residence. Available to homeowners who occupy the property as their main home. Most homesteads also receive a 10% annual cap on appraised-value increases.

Penalty and interest

Charges added to unpaid property taxes after January 31. Penalty starts at 6% and increases each month; interest accrues at 1% per month. After July 1 attorney fees may also apply.

Tax rate

The amount of tax charged per $100 of assessed value. Multiple taxing entities (county, city, school district, etc.) each set their own rate; your bill is the sum of all applicable rates multiplied by your assessed value.

Tax certificate

An official document showing the current status of property taxes on a parcel. Required for some real estate transactions and refinancing; ordered through the Tax Office for a small fee.