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Property Tax Key Terms

Determined by the Appraisal District:

Market Value= What the property would sell for
Assessed Value= The limited property value after exemptions are applied
Taxable Value= The property value you pay taxes on

Determined by the Taxing Units & Elected Officials:

Effective Rate= The reset button on taxes. The tax rate that would generate the same amount of tax levy as the last year.
Rollback Rate= The maximum tax rate that a taxing unit can adopt.
Adopted Rate= The tax rate adopted by the taxing unit.

TCAD 101: HOW WE WORK

Travis Central Appraisal District is responsible for fairly determining the value of all real and business personal property within Travis County, Texas. The district appraises property according to the Texas Property Tax Code and the Uniform Standards of Professional Appraisal Practices (USPAP).

VALUE x Tax Rate = Property Tax

Value: the worth of a property determined by the TCAD
Tax Rate: percentage by which the assessed value of a property is multiplied to determine the tax bill
Property Tax: the annual expense homeowners face to provide revenue for local governments spending on schools, libraries, parks, police and fire protection, etc.
After the VALUE is determined, TCADs role in the formula is complete!