DEPARTMENT: Finance Department
DEPARTMENT DIRECTOR: Troy Elliott
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT: Briefing regarding an overview of the appraisal process and property taxation.
SUMMARY:
A briefing regarding an overview of the appraisal process and property taxation.
BACKGROUND INFORMATION:
City Councilman Roberto Trevi?o currently serves as Vice Chair on the Bexar Appraisal District Board of Directors. The Board of Directors consists of five voting members who are appointed or elected by the eligible tax units in Bexar County and one non-voting member who is the current Tax Assessor-Collector for Bexar County. Councilman Trevi?o has served on the board since 2014 and has been instrumental in increasing transparency regarding the appraisal process and property taxation.
In this briefing, Bexar Appraisal District Chief Appraiser Michael Amezquita will address the appraisal process and property tax relief options. Also included will be a presentation by City staff regarding property tax relief options to include a local homestead exemption and the recently released proposal by Governor Abbott regarding property tax reform that is expected to be taken up during the next State legislative session in 2019.
During the Fiscal Year 2018 Budget process, City Council discussed the option of approving a local homestead property tax exemption including statutory provisions and the timeline for adoption. The City may adopt a local option homestead exemption of up to 20% of appraised value. If the percentage produces an exemption less than $5,000, the property owner is entitled to an exemption of $5,000 of the appraised value. In order for a local option homestead exemption to be effective for FY 2019, City Council approval is required prior to July 1, 2018.
ISSUE:
A briefing regarding an overview of the appraisal process and property taxation.
FISCAL IMPACT:
This item is for briefing purposes only.
ALTERNATIVES:
This item is for brie...
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