SAN ANTONIO – Bexar County Commissioners Court passed a $1.82 billion budget for fiscal year 2016-17 on Tuesday morning. Along with the approval came a lower tax rate of $0.30895 per $100 valuation.
The historical tax rate for Bexar County has decreased or stayed the same since fiscal year 1994-95, according to a chart provided in a budget message.
A tax decrease is something Commissioner Kevin Wolff was hoping for when going through the budget.
"I'm happy to say, 'You know what? We got one this year.' Not as much as I wanted but at least it gives the taxpayers some relief so I am happy about that," Wolff said.
Bexar Appraisal District projects property values will increase by nearly nine percent in the next year. The median home price, as reported by the San Antonio Board of Realtors, is just under $212,000.
"Housing prices go up, tax rates go down. For a lot of us, it evens out," said Christine Drennon, director of the urban studies program at Trinity University.
"For some, our tax bills are going to go up anyways despite a rate decrease because the values are going up. For some, it's going to be a nice break maybe for a year," Drennon said.
The tax decrease doesn't equal less revenue for the county. Instead it's expected to bring in about $23 million more than last year's budget.
To see the full proposed budget as it stood prior to the changes the court made over the past two weeks of budget work sessions, click here.