ποΈ Lakeway approves new tax rate and budget
The Gist: Lakeway City Council approved a 2026 property tax rate of $0.170076 per $100 of taxable value, below the cityβs initially proposed maximum rate of $0.1760. For a home valued around the city average of $857,615, the approved rate is expected to add about $29 a year for the average Lakeway property owner.
Council also approved the FY 2027 budget, which includes an estimated $581,665 shortfall. City leaders directed staff to explore using reserve funds to help cover the gap.
Why It Matters: Lakeway says its portion makes up about 9% of the average property tax bill, helping pay for services including police, local road maintenance, parks, permitting and other city operations.
π Lake Austin drawdown officially canceled for 2026
 Source: City of Austin |
The Gist: The City of Austin has canceled plans to lower Lake Austin by about 10 feet from Oct. 12 through Nov. 30. The drawdown was meant to give homeowners and city crews easier access for shoreline and dock work.
But after concerns about the impact on businesses, recreation and major fall events, including UT football, Formula 1 and the fall wedding season, the city called it off. Lake Austin will stay at its usual water level this fall.
Why It Matters: Boaters and waterfront businesses can continue using the lake normally. Homeowners who were planning dock, bulkhead or shoreline projects while the water was lower may need to change their plans or wait for another opportunity.
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