San Antonio homeowners and businesses will not face in increase in the property tax rate in the new city budget that takes effect October 1, News Radio 1200 WOAI reports.
The actual details of the budget will be released next week by City Manager Sheryl Sculley, but an agenda item posted today shows that the two separate parts of the property tax rate, the 'maintenance and operations' and the 'debt service' tax rate will remain steady.
That doesn't mean the amount you pay in property taxes will remain steady. Rising property valuations will likely mean most homeowners will pay more in their monthly mortgage bills to cover what are called 'ad valorem,' or 'by value' property taxes.
Several members of Council are expected to push for a homestead exemption or some other mechanism to offset the rising property valuations, but the success of those measures is in doubt.
Several public hearings will be scheduled before the budget is finally approved in mid September.