The property tax exemption passed the Bexar County Commissioners' Court with unanimous support and will go into effect for 2022 valuations.
Most homeowners will get a property tax break on their county taxes after Commissioners Court approved a homestead exemption Tuesday.The Bexar County Commissioners Court on Tuesday approved a plan to offer homeowners a property tax exemption worth 20% of the appraised value of their home Tuesday.
The exemption, which will go into effect for 2022 valuations, applies only to Bexar County’s portion of a resident’s property tax bill, which includes a tax for roads and flood control. That means that for a home with an appraised value of $300,000, roughly the median value in San Antonio, 20% or $60,000 would be exempt, making the appraised value $240,000 and saving the homeowner about $174.$0.276331 per $100 of valuation, and the road and flood tax is $0.
According to data provided by the county, the homestead exemption applies to 358,000 homes, with an average tax savings of $99. It should decrease the county’s property tax revenue by roughly $35.3 million. for homeowners age 65 and older from Bexar County Hospital District taxes, beginning with 2022 valuations. It was put forth by Commissioners Rebeca Clay-Flores and Justin Rodriguez .
In past years when rising property values caused a surplus, the court lowered the county’s property tax rate to avoid the rollback, said Bexar County Judge Nelson Wolff.
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