SAN ANTONIO – The Texas Legislature made some significant property tax changes during the special session that will be decided on by Texas voters coming up in November. The question is how much property tax relief the average homeowner could see.
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Gary Rivas, president of SWBC Ad Valorem Tax Advisors, joined anchors Steve Spriester and Myra Arthur in Thursday’s KSAT Q&A to give some insight on what homeowners can expect.
Rivas told Steve and Myra the changes will “provide significant and notable tax relief when we get out tax bills in October.”
When asked about a ballpark figure for the average homeowner, Rivas said the savings would be about $1,200 to $1,300, noting that the savings would be from the state.
“It’s a moving target, meaning you have different price points, different valuations of homes and properties. So it’ll vary according to the price point...” Rivas said. “...The other exemptions and the other incentives that the city, county and so forth are offering as well is going to add to that savings.”
Rivas said the homestead exemption will provide relief to those who need it most — homeowners.
“I think the average homeowner is the one who needs the most relief, and that $100,000 homestead exemption, which would apply strictly to the school district tax rate, which is the largest share of a person’s tax bill, is going to provide the most significant and noticeable tax savings across the board,” he said.
Rivas said one of the biggest mistakes is homeowners not taking advantage of the homestead exemption.
“That’s a big deal. It’s very simple to rectify. A simple called the appraisal district or a professional like myself can help navigate what it would take to get that corrected,” he told KSAT.
He recommends homeowners get with the county’s appraisal district to see all the available exemptions that they can get on their tax bills.
Rivas said homeowners should be protesting every year since the appraisal district is only required to re-appraise every three years.
“If you appraise every year for those homestead properties, you’re automatically limiting the amount of increase that the appraisal district can take on the taxable portion to 10% over any given year...” Rivas said. “...Whereas if you wait two years and they say that they didn’t appraise your neighborhood, then you could realize a 20% increase or more when they get around to it.”
Rivas said the county’s tax assessor-collector is expected to send out provisional property tax statements in October “with the preparation that tax bills will already take into account these measures that have been passed by the House and the Senate yet to be approved by the governor. But they’re going to act as if these bills are going to be passed by the voters in November.”
Rivas also spoke more about the appraisal process and some exemptions for small businesses during the KSAT Q&A. Watch the full video in the player above.
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