Alamo Colleges District Board of Trustees Approve $5.6 Million Property Tax Exemptions Increase
May 17, 2023
At a regular board meeting held on May 16, 2023, the Alamo Colleges District Board of Trustees adopted a homestead property tax exemption for all Bexar County homeowners as well as an increase in the property tax exemption for homeowners 65 and over, disabled persons, and their surviving spouses.
The property tax exemptions would amount to a savings of $5.6 million for over 372,000 homeowners, based on preliminary information from the Bexar County Appraisal District.
The exemptions approved by the Alamo Colleges District Board of Trustees were a homestead exemption of 1% or minimum of $5,000 and an increase for property owners over 65, surviving spouses and disabled homeowners and surviving spouses to $50,000.
The approved tax relief is meant to give the largest impact to close to 159,000 homeowners who are over 65 or disabled and their surviving spouses. The average reduction would work out to a reduction of $37.29 for homeowners over 65 and their surviving spouses and a reduction of $74.58 for homeowners who are disabled and their surviving spouses.
“We are pleased to be able to offer this tax relief to taxpayers who are typically on a fixed income and might need the most help,” said Alamo Colleges District Chancellor, Dr. Mike Flores. “It might mean the difference for many homeowners to afford extra groceries or a prescription medication.”
The Alamo Colleges District began an evaluation of its homestead exemption for property taxes following an August 2022 board meeting in response to rising Bexar County property taxes. At the time, any adoption or amendment of exemptions would not have been in effect for the current tax year. The recently approved homestead property tax exemption and amendment goes into effect this tax year.
For more information on how the Alamo Colleges District utilizes Bexar County property taxes to create impact across our community, click here.