The San Antonio City Council voted to raise the homestead exemption for city taxes and provide additional exemptions for seniors and the disabled.
City Council unanimously approves an increase for the homestead exemption on city property taxes, raising it to 10%.San Antonio City Council voted unanimously Thursday to increase the homestead exemption from city property taxes to 10% of the home’s assessed value, effective on 2022 tax bills. It also approved increases to the exemptions disabled people and people aged 65 and up can apply to their property taxes.
Under the new exemption, the owner of a home with an assessed value of $300,000 would see about about $164 in total savings, according to the San Antonio Board of Realtors. “Councilman [Clayton] Perry and I have been advocates for what we consider tax relief since we both got on the council five years ago,” said Councilman John Courage . “But we’ve gone through some really challenging times. … No one can question what the pandemic did for the economic stability of of our community.”Today, the city is flush with cash, thanks to federal relief money and increased property tax and sales tax revenue.
“With the homestead exemption we can only influence those homeowners, but outside of that group, you’ve got small business owners, you’ve got landlords that own rental properties, you’ve got other commercial customers,” said Gorzell. “We’re trying to give everybody some level of relief.”
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