San Antonio

Bexar County provides new property tax break to homeowners amid soaring home inflation

Bexar County leaders say they need to present property tax reduction, however one home-owner feels its not sufficient.

SAN ANTONIO — Bexar County is now offering a small property tax break for homeowners.

Today, county commissioners permitted a homestead exemption for homeowners who qualify. County leaders say it comes at a time the place home values are soaring in Texas.

One home-owner likes the transfer—however feels it’s not sufficient.

The county commissioner who pushed for the exemption says rising property values throughout San Antonio, together with neighborhoods like Denver Heights is why she needed this exemption.

Sheariah Jones has lived in her home since she was 11 years previous, and hopes to name it home for a very long time.

“I’m a licensed esthetician here in the state of Texas, this will be my home studio, office and a place I can call home,” Jones says.

Jones is a daughter of navy dad and mom and is hoping to inherit possession of her dad and mom home.

“It has a lot of sentimental value to me which is why I want to keep it in the family,” Jones says.

Keeping it within the household has turn into expensive—and hard to keep off consumers.

She continually will get calls from folks keen to purchase the home for $200,000 in money affords.

With renovations and re-dos, the home worth has gone up since Jones’ household purchased the home, and so have the taxes.

“In less than one year it went from $1,000 which was very affordable to $5,000-plus,” Jones stated.

It’s why Bexar County is offering some reduction to homeowners.

County commissioners permitted a new homestead exemption, which reduces the taxable worth of houses throughout Bexar County by $5,000.

Commissioner Marialyn Barnard for Precinct 3 says it saves all homeowners within the county $15 a year on their tax invoice.

“While it seems like a little bit, over the course of many years it adds up and of course we’ve seen, in addition to the property values increasing, we’ve also seen inflation,” Barnard stated.

According to the Texas Association of Appraisal Districts, home values across the state have elevated between 10 to 50% since final year. The San Antonio-New Braunfels space noticed property values improve 18.37% year over year, rating fourth highest amongst Texas actual property markets.

The new exemption is usually optimistic to potential homeowners like Jones.

“It sounds amazing, it’s just a little bit late after the fact, I wish they would have done it sooner so that during COVID, we wouldn’t feel fearful of losing our homes because of just the property taxes,”

Whether it’s first time homebuyers like Jones, or generations of households residing in houses—Jones doesn’t need anybody to get priced out of their property.

“I love Denver Heights, I love being this close to downtown, and I shouldn’t have to move because it’s unaffordable now,” Jones stated.

Jones says she desires to pay taxes to permit the county to make enhancements in her neighborhood.

According to the County’s Tax Assessor-Collector Office, homeowners who’ve a homestead exemption don’t want to apply for the County’s exemption and it’ll robotically apply.

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