9. Calculation based on: 2017 approved tax rates, Travis County Appraisal District Data for the property, $250m in improvement value, and 2.5% growth rate in taxes.
We came to the $1 Billion figure by looking at the 2017 approved tax rates and then applying it to the property value assigned to it by the Travis County Appraisal District.
We then estimated a $250m improvement value, and then applied an annual 2.5% growth rate in taxes. The length of the proposed contract is 20 years, with an option for the sports team to renew it 3 more times for the same length of time - a total of 80 years of lost taxes. Across the 80 years this equals to well over $1 Billion. Please note that the 2.5% annual growth rate is very conservative.
Please refer to the current value of the vacant lot as listed on the Travis County Tax Assessor website. As of today, the Travis County Appraisal District says the vacant lot is worth $8.7 million.
Account Number: 02500802010000
Location Address: 10414 McKalla Place
Current tax rates for all Travis County taxing entities can be found here on the Travis County Tax Assessor Website.
Here's a full spreadsheet of our calculations.