“We wanted to start putting [this] out on the council’s radar screen now,” San Antonio City Manager Erik Walsh said of the discussions the City Council had Wednesday about two possible adjustments for future property tax bills.
San Antonio City Council reviewed two possible adjustments for future property tax bills on Wednesday: reducing the city’s property tax rate and increasing homestead exemptions next year.
If history is any indication, the city will continue to exceed the cap. On average, property tax revenue since 2011 has increased more than 5% each year. Before 2021, it hasn’t dropped below 3.5% since 2014.Previously, the cap was set at 8%, which allowed the city to build its budget during “good years” or times of growth, Deputy City Manager María Villagómez.
The city, which currently receives about 22% of collected property taxes, hasn’t increased its property tax rate for 29 years, but has decreased it seven times during that period. The city’s tax rate has been at nearly $0.56 since 2016. “This city can afford to give more back to our homeowners in this town through a property homestead exemption,” Perry said, noting that the city saw an increase of $20 million in property taxes from 2020 to 2021. “Dadgummit, we can afford this.” , the minimum allowed by the state, in 2020. It shaves 0.01% — which amounts to the $5,000 minimum — off the appraised values of homes that are the primary residence of a property owner. The average homeowner saves an estimated $28 per year.
There are alternatives for property tax relief that the city will pursue, City Attorney Andy Segovia said.
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