What you need to know
The new tax rate is $0.514382 per $100 valuation, which is an overall decrease compared to the previous tax rate.
Despite this change, homeowners will still pay an increase in taxes due to increasing home appraisal values.
A homeowner with a home valued at $300,000 would pay an estimated $1,543 in annual taxes to the city. Information on the Bexar County tax rate can be found here.
What else?
The tax rate is a compromised rate between City Council members, which resulted in the postponement of $100,000 of budgeted items.
Postponed items include $60,000 for a parks and recreation vehicle and $40,000 for public works trailers.
City staff said the postponed items do not impact essential city services, and would be added to the next budget cycle.
According to the budget, the city will have an estimated $57.84 million in expenses in the next fiscal year. The new budget will be in effect starting Oct. 1.
