How much the $720 million Mobility Bond will cost homeowners

How much Austin's mobility bond will cost you

AUSTIN - In addition to local, state and national elections on Nov. 8, Austin residents will decide whether to spend $720 million on mobility bonds.

The project aims to fix clogged corridors and improve intersections throughout the city. GO HERE to learn more about the bond projects.

Mayor Steve Adler and city council members asked that a "Tax Impact Calculator" be placed on the bond website to help voters decide whether they're in favor of the bond based on how much it could cost them.

A resident can start by entering their home's assessed taxable value. If you don't know it, you can find it by searching the Travis Central Appraisal District website.

Adler has promised most homeowners will be no more than $5 per month for this bond, which is true if you use the city's median home price of $251,994. However, using the Austin Board of Realtors August 2016 Market Report , the median home price in Austin is more than $100,000 more than the city's estimate. ABoR puts the median home price in August 2016 in Austin at $356,276.

Using that number, the owner of a $356,276 home pays $80.16 per year, or $6.68 per month.

GO HERE to use the tax impact calculator.

(© 2016 KVUE)


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