The 0.01 percent exemption will shave $5,000 off the appraised values of homes that are the primary residence of a property owner.
Mayor Ron Nirenberg said he will vote in favor of a homestead exemption Monday but will not support increasing the City’s property tax rate.
Most San Antonio City Council members seemed open to providing some form of residential property tax exemption.
Most San Antonio City Council members support a budget that includes housing initiatives and increased spending on street and sidewalk projects.
City of San Antonio officials are forecasting a $13.2 million budget surplus for fiscal year 2018, but recommended that City Council save it.
San Antonio residents age 65 and older might not be taking advantage of a common-sense property tax exemption. The City wants to change that.