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Austin to start taxing many more lakeside homes

bizjournals Thursday, 20 June 2019
Austin City Council on June 20 trashed a decades-old tax exemption that allowed hundreds of Lake Austin homes to avoid paying city property taxes. Council voted unanimously to repeal the 1986 ordinance, which affected about 400 homes worth a combined $843 million. Many of them are high-priced mansions, with a median price more than $2 million. The Council members spearheading the change, Greg Casar and Jimmy Flannigan, framed it as a way for wealthy West Austin to pay its fair share of property…
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