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The original item was published from 8/21/2019 3:38:37 PM to 8/21/2019 3:50:28 PM.

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Posted on: August 21, 2019

[ARCHIVED] Understanding the Property Tax Reduction Tax

tax savings

The Town of Westlake is working to save you money on your property taxes each year. To do so, the Town has utilized a portion of the local option and established the following sales tax-supported funds:

Property Tax Reduction (PTR) – This tax represents a 1/2 cent (1/2%) sales tax levy used to reduce the property tax burden on local residents and businesses by providing Westlake with an additional unrestricted revenue source. The savings each year varies based on the amount of sales and use tax received. The average estimated worth of a home in Westlake is $1.6 million. Based on that worth, the total amount a taxpayer would pay is around $2,067 per year. The total sales tax reduction savings would be $1,871. Without the tax reduction savings, the homeowner would pay around $3,938 per year. 

You can see how much money you've saved by referring to the line at the bottom of a past, current, or future tax statement. The one below is a sample showing you the savings highlighted in yellow beside the red arrow. 

If you have any questions about your property tax reduction, contact Westlake's Director of Finance, Debbie Piper at 817-490-5712, or email her at dpiper@westlake-tx.org.

Sample tax

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