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Austin City Manager Spencer Cronk said the average household would see a $10 monthly increase in taxes if the proposal gets the OK from City Council in August.
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The California-based electric scooter operator owed about $149,000 in 2021 property taxes.
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The measures will provide limited property tax relief, but the vote comes after recent tax appraisals gave Texas homeowners sticker shock.
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If passed, both initiatives would amend the Texas Constitution. According to economists and experts, the changes could help slow down property tax increases.
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The Travis Central Appraisal District says appraised values, or market values, of homes went up 56% this past year. But homeowners don't pay taxes on that amount.
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Austin ISD found out this week that properties in Travis County were appraised much higher than it anticipated. It's now expected to pay $850 million into the state recapture system next school year — $50 million more than it had budgeted.
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At a time when home appraisals are soaring, economists say the two propositions could help slow the increase of property taxes in Texas.
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Voters in Texas can decide on several local ballot initiatives — plus two constitutional amendments — on May 7 before heading back to the polls on May 24 for primary runoff elections.
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Texas school districts, cities and counties rely heavily on property taxes to pay for roads, libraries, police, firefighters and public schools. But lowering tax bills has long been a difficult endeavor.
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The proposed budget would add $1,000 to teachers' base pay and give them a 2% raise overall. The district is also proposing raising the hourly wage for classified workers and bus drivers.