SAISD Board adopts additional homestead exemption
SAISD Board adopts additional homestead exemption to help offset tax impact of 2016 Bond and TRE elections
November 28, 2016 -- San Antonio ISD Board of Trustees voted tonight to adopt an additional residence homestead exemption that will provide a taxpayer with an added property tax exemption of not less than $5,000.00 from the appraised value of the taxpayer’s residence homestead. The exemption will decrease the monthly tax impact of the 2016 Bond and Tax Ratification elections, approved Nov. 8 by voters in the school district, leaving more money in homeowners’ pocketbooks.
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 $14.59.
“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 hard-working families, because we understand the impact that higher taxes can have,” said SAISD Board President Patti Radle.
San Antonio ISD voters on November 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.
A tax impact calculator can be found on the SAISD Bond TRE website at: www.saisd.net/bondTRE2016