for its portion of a resident’s property taxes earlier this month, citing the need to direct tax relief toward young families.
Documents provided by the city show an estimated reduction in the property tax rate, from $0.558 per $100 of valuation to $0.545 per $100 of valuation, though exact numbers won’t be known until revenue is finalized later this fall. Under the plan City Council is set to consider Thursday, a property assessed at $300,000 would see about about $164 in total savings from the increased homestead exemption, according to the San Antonio Board of Realtors, which favors the measure. Roughly 247,000 homes in San Antonio currently qualify for a homestead deduction.
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