County Commissioners adopt University Health’s recommendation to offer a homestead tax exemption
Bexar County Commissioners today voted unanimously to provide additional property tax relief to homeowners by approving University Health’s proposal to grant a homestead exemption of 5%. The exemption is in addition to the hospital district exempting $30,000 in property value from taxes for homeowners over age 65.
“We understand that property tax relief is important to homeowners,” said George B. Hernández, Jr., President and CEO of University Health. “We’ve worked diligently to increase other sources of revenue to offset the cost of services to our growing community to minimize the tax burden. These efforts have resulted in only 19% of University Health’s revenue coming from property taxes. We are very pleased to support an additional 5% homestead exemption for all homeowners.”
In recommending the homestead exemption, University Heath said it hopes to incrementally increase the amount to the maximum allowed rate of 20%. The exemption will reduce the hospital district’s annual property tax revenue by about $17 million in 2024. Hernández emphasized the reduction will not negatively affect the health system’s ability to provide quality services.
“While significant reform must occur at the state level, it is important that local taxing jurisdictions consider ways to provide relief to homeowners in our community,” said Justin Rodriguez, Precinct 2 County Commissioner. Rodriguez said he enthusiastically supports the exemption and understands it will not interfere with the health system’s plans to expand services to meet the community’s growing needs.
The additional homeowner savings comes even as University Health continues to expand services by opening a new Women’s and Children’s Hospital this August, and by beginning construction on two acute-care community hospitals in south and northeast Bexar County by the end of the year.
