“I do think this is the time for us to be able to max out our homestead exemption,” Mayor Ron Nirenberg said. “We have very limited tools to be able to target tax relief.”
San Antonio homeowners could see a 20% reduction in their property tax bills from the city this year, pending Council approval.San Antonio homeowners who live in their homes will likely see a reduction in their property tax bills from the city later this year, as City Council is slated to vote on a proposed 20% homestead exemption and a slight reduction in the city’s property tax rate.
That means homeowners may still see an overall increase in their total bill, especially as property values increase.in Bexar County, that home’s owner will see an estimated $82 in savings on the city portion of their next tax bill, city officials said Wednesday as they briefed Council members on the proposed changes to the homestead and tax rate.
Gov. Greg Abbott could call another special session if a bill isn’t passed during the current one, but an agreement needs to be made by August in order to put the proposed cut before voters in November, Basurto said. “They are on a short timeline.” increased its homestead exemption to 10% of the assessed value of their home, stopping short of the state maximum 20%, which most other major cities had already hit. Instead, the city offered a greater reduction in the property tax rate, which leaders at the time said would offer property tax relief to businesses and multi-property owners, savings they hoped would be passed along to consumers and renters.
There are no maximum caps for elderly and disabled exemptions, but city staff is not recommending increasing those amounts this year, Walsh told reporters.
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