Posting Language
Title
Conduct a public hearing and consider an ordinance setting the assessment rate and approving the 2027 assessment roll for the Austin Downtown Public Improvement District and declaring an emergency and consider an ordinance approving the Austin Downtown Public Improvement District Service and Assessment Plan and Budget update for 2027 and declaring an emergency. Funding: The 2027 assessment rate of $0.0925/$100 on commercial properties valued at more than $500,000 is estimated to produce $13,118,225.80 at an 85% collection rate.
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Lead Department
Austin Financial Services.
Fiscal Note
The 2027 assessment rate of $0.0925/$100 on commercial properties valued at more than $500,000 is estimated to produce $13,118,225.80 at an 85% collection rate.
Prior Council Action:
May 21, 2026 - Council approved an ordinance setting the calendar year 2027 rate of assessment for the Austin Downtown Public Improvement District within the City of Austin and approving the calendar year 2027 assessment roll for the District in order for staff to send notices to affected property owners for the public hearing.
For More Information:
Kimberly Olivares, Director, Austin Financial Services, 512-974-2924; Margaret Shaw, Austin Financial Services, 512-974-6497.
Additional Backup Information:
On May 21, 2026, Council approved the proposed 2027 assessment rate for the Downtown Public Improvement District (PID) at a valuation rate of $0.0925 per $100 on commercial properties valued at more than $500,000. Council also approved the proposed 2027 assessment roll, which lists property owners subject to the assessment. The assessments paid by the property owners fund PID services.
State law requires Council to conduct a public hearing to consider the proposed assessment. Approval of the assessment rate and property roll on May 21, 2026, triggered notices to be sent to property owners within the PID to give them the opportunity to review the property valuations prior to ...
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