If your home has a market value of $100,000, you would have saved $53 without the increased homestead exemption. Now, you'll save about $108. If your home is valued at $200,000, you can expect to save about $216 (up from $106).
This is an important tax relief measure for District 1 since 1 in 4 homeowners are considered "housing burdened." This means they spend more than the recommended 30% of their income on their mortgage and housing needs.
P.S. Remember that the City is only one of the organizations that your property taxes go to. Your taxes also go to Bexar County, the River Authority, and taxing entities.
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