City council passes property tax relief in first session with new members

San Antonio’s City Council successfully doubled the city’s homestead tax exemption to 20%, the maximum allowed by state law.

A press release said that the city is poised to propose lowering its property tax rate as part of the Fiscal Year 2024 Proposed Budget.

San Antonio is among a few cities that provide additional property tax relief through $85,000 in exemptions and a tax freeze for people with disabilities and those over 65.Homestead exemptions lower the taxable value of a home and reduce the owner’s property tax burden. For example, a home valued at $100,000 will see an additional $55 of savings from the city’s portion of their respective property tax bill.

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