Austin property taxes are based on the market value of property as of January 1 of each year. The above graph documents what annual property taxes would be based on the average / median Austin home price for December 2020 to October 2022. AUSTIN PROPERTY TAX / HOME PRICE TAKEAWAYS Austin property taxes for an average priced home were on a trajectory for huge increases from December 2020 through May 2022. The trendline for Austin property taxes peaked in May 2022 and have been on a downtrend since. Austin 2023 property taxes for houses are likely to be similar to 2022 tax year based on current trends in Austin home sales. The average / median home price estimated for January 2023 will be similar to the price in January 2022. AUSTIN HOME PRICE TAKEAWAYS Austin home prices were rocketing upward at 3% per month during 2021 and the first 5 months of 2022. Austin home prices peaked in May 2022 and have been declining at 2% per month through October. Austin home prices are ...