District 8 Councilman Recognizes Much-Needed Tax Relief

Published on June 22, 2023

District 8 Councilman Recognizes Much-Needed Tax Relief Provided to Residents through Homestead Exemption Increase

SAN ANTONIO (June 22, 2023) - During today's City Council A Session, the San Antonio City Council voted to increase the homestead exemption to 20% of the appraised value of the residence homestead in the City of San Antonio for the tax year beginning January 1, 2023. In a presentation made by San Antonio’s chief financial officer, property tax relief during FY 2023 totaled $94.9 million. With the 20% homestead exemption, total property tax relief for FY 2024 is projected to be $134.1 million.

Following the vote, District 8 Councilman Manny Pelaez issued the following statement:

“This vote today should ease the financial burden on San Antonians as we continue to grapple with the effects of above-average inflation, higher interest rates, and increases in our home appraisal values.

Neighbors consistently tell us that they are concerned about the amounts they pay in property taxes, and while the City of San Antonio does not set appraisal values, we can take action to help lessen the burden of these increases.

By way of taxation, there are families that must choose between paying taxes and other necessities like medicine and nutrition. No parent should have to make this choice. By decreasing the tax burden, we hope to provide San Antonio families some breathing room to reallocate additional savings to meet their essential needs. 

Moving forward it is imperative that we continue to monitor how property taxes affect the financial security and future of our community.”

Information based on preliminary data from the Bexar Appraisal District illustrates that under the 20% exemption, a homestead with a market value of $200,000 may see an additional savings of $109. This includes a preliminary estimate of the FY 2024 tax rate which is for illustrative purposes only; the final tax rate will be calculated in July 2023.