SAN ANTONIO – San Antonio Independent School District board of trustees voted Monday to adopt an additional residence homestead exemption that will provide a taxpayer with an added property tax exemption of not less than $5,000 from the appraised value of the taxpayer’s residence homestead, a news release from the board said.
The release explained that the exemption will decrease the monthly tax impact of the 2016 Bond and Tax Ratification Elections, which were approved Nov. 8 by voters in the school district, leaving more money in homeowners’ pocketbooks.
According to the release, under Texas law, a school board has the option to offer an additional homestead exemption, and the SAISD board made the decision to exercise that authority. The minimum $5,000 homestead exemption will go into effect on a person’s residence homestead in January 2017, and will automatically be added to any other homestead exemption for which an individual qualifies.
As a result, the estimated monthly tax impact for the average homeowner for the 2017 tax year would be only $2.37 instead of $8.75, and then would go up incrementally to only $7.79 a month by 2020, instead of to $14.59 the release said.
"Our community made a decision to invest in our students and our district, and we, as a district, want to ensure that we are doing everything we can to help our community, our hardworking families, because we understand the impact that higher taxes can have," SAISD board president Patti Radle said.
The release said that SAISD voters on Nov. 8 overwhelmingly approved the $450 million bond proposal by 71.66 percent, and the increase of the maintenance and operations tax rate by 70.49 percent.
Tax impact calculator can be found on the SAISD Bond TRE website.