JUST SO, YOU KNOW, THE AVERAGE HOMEOWNER. >> I DID.
>> HOW SIGNIFICANT WERE THE
PROPERTY TAX CHANGES THAT WERE
PASSED BY THE TEXAS LEGISLATURE
AND WILL BE VOTED ON BY TEXAS
VOTERS COMING UP IN NOVEMBER.
THAT IS A GOOD QUESTION.
WE HAVE NOT GOT A REALLY
DOLLARS AND CENTS IDEA OF HOW
SIGNIFICANT THESE CHANGES WERE
MADE. THAT’S WHY WE HAVE OUR
FOR KSAT Q AND A GARY READ.
THIS IS THE PRESIDENT OF S WBC
AD VALOREM TAX ADVISORS.
GARY, THANK YOU FOR JOINING US.
THANK YOU FOR HAVING ME.
WOULD YOU TERM WHAT THE TEXAS
JUST THE STATE DID
AS SIGNIFICANT?
>> ABSOLUTELY. IT IS GOING TO
PROVIDE SIGNIFICANT AND
NOTICEABLE TAX RELIEF WHEN WE
GET OUR TAX BILLS IN OCTOBER.
>> AND THAT’S WHAT I YOU KNOW,
FOLLOWING WHAT’S HAPPENED IN
MULTIPLE SPECIAL SESSIONS AT
THE STATE LEVEL. IT’S BEEN
COMPLICATED FOR PEOPLE. SO AT
THE END OF THE DAY, AS STEVE
MENTIONED, DOLLARS AND CENTS OR
WHAT PEOPLE ARE WONDERING
ABOUT. SO DO YOU HAVE A
BALLPARK FIGURE OF WHAT THE
AVERAGE SAN ANTONIO HOMEOWNER
COULD EXPECT TO SAFE.
YES.
>> AND IT QUITE IT IS VERY MUCH
A COMPLEX SYSTEM THAT YOU GET
THAT THEY’VE ARRIVED AT.
BUT NEVERTHELESS, WHEN IT ALL
BOILS DOWN TO, AS I BELIEVE,
THE AVERAGE A HOMEOWNER WELL
PROBABLY REALIZE A TAX SAVINGS
ABOUT 12 TO $1300 A YEAR YET
AGAIN ANNUALLY ON THEIR
PROPERTY TAX STATEMENT.
>> THAT’S SIGNIFICANT. NOW THAT
IS THAT JUST FROM THE STATE OR
THAT’S WHEN YOU ADD THE STATE,
THE COUNTY’S OVER THINGS OF THE
CITY’S DOT. THAT’S PRETTY MUCH
JUST FROM THE THE STATE.
IT’S A MOVING TARGET. MEANING
YOU HAVE DIFFERENT PRICE
POINTS. DIFFERENT VALUATIONS OF
OF HOMES AND PROPERTIES.
SO IT WILL VARY ACCORDING TO
THE PRICE POINT. BUT FOR THE
AVERAGE A TAX PAYER, THE
AVERAGE HOMEOWNER. TO YOUR
POINT, IF THE SAVINGS SHOULD BE
BETWEEN 12 1300, BUT THAT
SIGNIFICANT. AND THEN LIKE YOU
SAY, STEVE.
THE OTHER EXEMPTIONS AND THE
OTHER INCENTIVES AT THE CITY
COUNTY AND SO FORTH ARE
OFFERING AS WELL IS GOING TO
ADD TO THAT THAT SAVINGS IS
THERE ONE PART OF WHAT THE
STATE PASSED THAT IS?
MOST SIGNIFICANT IT AND JUST
OFF THE TOP OF MY HEAD, I WOULD
THINK.
>> NOT BEING THE TAX EXPERT.
YOU ARE THAT IT WOULD BE THE
HOMESTEAD EXEMPTION.
>> I WOULD TEND TO AGREE WITH
I I THINK THE AVERAGE HOME
OWNER AS ONE WHO NEEDS THE MOST
RELIEF AND THAT $100,000
HOMESTEAD EXEMPTION, WHICH WILL
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.
AGAIN, DEPENDING ON THE PRICE
POINT SHOULD BE ABOUT $1300 A
YEAR. AND THAT’S SOMETHING THAT
TEXAS VOTERS HAVE TO SIGN OFF
ON COME NOVEMBER. HISTORICALLY
THEY HAVE. I’M RIGHT, RIGHT?
LIKELY PASS AGAIN, RIGHT?
>> SO INCREASING THE HOMESTEAD
EXEMPTION FROM 40,000 TO
100,000. IF WE’RE GOING TO VOTE
ON THAT COME NOVEMBER, WHEN
WE START TO SEE THAT SAVINGS
REFLECT. THAT’S A GREAT
QUESTION BECAUSE WE GET OUR
TAX BILLS IN OCTOBER.
THE BEXAR COUNTY TAX
ASSESSOR-COLLECTOR ALBERT, YOUR
ST HAS SAID THAT HE IS GOING
TO SEND OUT PROVISIONAL.
>> PROPERTY TAX STATEMENT
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
IS THERE ONE BIG MISTAKE THAT
PEOPLE MAKE WHEN IT COMES TO
THEIR PROPERTY TAXES?
>> YOU HAVE THE BIGGEST MISTAKE
THAT I SEE IS PEOPLE NOT TAKING
ADVANTAGE OF THE HOMESTEAD
EXEMPTION OR ANY OTHER
EXEMPTIONS FOR WHICH THEY MIGHT
QUALIFY. AND AND THAT’S A BIG
DEAL. IT’S VERY SIMPLE TO
RECTIFY A SIMPLE CALLED THE
THE APPRAISAL DISTRICT OR A
PROFESSIONAL LIKE MYSELF CAN
HELP.
NAVIGATE WHAT IT WOULD TAKE
TO GET THAT CORRECTED.
>> YEAH. SO THERE ARE HOMESTEAD
EXEMPTIONS. THAT’S FOR ANYONE
WHO OWNS A HOME AND IT’S THEIR
PRIMARY RESIDENCE. EXACT
CORREC RIGHT. BUT THEN THERE
ARE ALSO EXEMPTIONS IN PLACE
FOR PEOPLE OVER 65 VETERANS.
WHAT WHAT ELSE EXISTS OUT
THERE? YOUR DISABILITY
EXEMPTION, WHICH IS VERY
SIMILAR TO THE OVER 65
EXEMPTION. THE DISABLED
VETERANS
DISABILITY. WE TALK THERE.
THERE’S JUST A MYRIAD OF
DIFFERENT TYPES OF EXEMPTIONS.
>> THAT PEOPLE MIGHT QUALIFY
FOR, BUT THEY JUST WE NEED TO
TALK TO THE PRESIDENT SHOULD
FIND OUT WHAT THEY WHAT THE
OPTIONS ARE AVAILABLE.
>> IS IT YOUR BLANKET ADVICE
FOR SOMEBODY THAT NO MATTER
WHAT THEIR PROPERTY TAX BILL IS
THAT THEY SHOULD PROTEST.
ABSOLUTELY
>> FILING A PROTEST EVERY YEAR
CONSTITUTE A REAPPRAISAL.
WHEREAS THE PRESIDENT
STRICKER’S REQUIRED TO
REAPPRAISE ONLY ONCE EVERY 3
YEARS. SO IF YOU’RE PRAYS 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 IN A GIVEN YEAR. SO IF
YOU PROTEST EVERY YEAR, YOU ARE
LIMITING THAT INCREASE TO A
MAXIMUM OF 10%. WHEREAS IF YOU
WAIT 2 YEARS AND THEY SAY THAT
THEY DIDN’T APPRAISE YOUR
NEIGHBORHOOD, THEN YOU COULD
REALIZE A 20% INCREASE OR MORE.
WHEN WHEN THEY GET AROUND TO
IT. AND WHEN IT COMES TO
PROTESTING YOUR APPRAISAL VALUE
OR EVEN APPLYING FOR
THESE EXEMPTIONS.
>> SOMEBODY MIGHT THINK, OKAY.
THAT SOUNDS LIKE A LOT OF RED
TAPE. A LOT OF PAPERWORK.
WHAT’S THE REALITY OF WHAT
SOMEBODY NEEDS TO HAVE IN ORDER
TO MAKE THOSE THINGS HAPPEN?
IT’S REALLY NOT A COMPLICATED
PROCESS, ESPECIALLY TO FILE
YOUR HOMESTEAD IN OVER 65 THERE
ARE 2 TORY UL’S OFFERED BY THE
BEXAR APPRAISAL DISTRICT.
>> ONLINE THAT WELL NAVIGATE
YOU THROUGH THE PROCESS.
IT’S VERY EASY. IT’S A SIMPLE
AS DOWNLOADING A FORM FILLING
IN YOUR YOUR OWNERSHIP. YOU’RE
MAILING INFORMATION, PROVIDING
FOR A COPY OF YOUR YOUR
DRIVER’S LICENSE. AND THAT’S
PRETTY MUCH ABOUT IT. OR YOU
CAN ACTUALLY GO TO THE
APPRAISAL DISTRICT OFFICE OR
THE TAX OFFICE, I BELIEVE WILL
DO IT AS WELL AND FOLLOWED
THEIR GEAR. BEFORE WE LET YOU
GO, HOW SIGNIFICANT IS WHAT
THIS WHAT THE TEXAS LEGISLATURE
PASSED FOR BUSINESSES IN THE
STATE OF TEXAS.
>> ESPECIALLY SMALL BUSINESSES.
IT SEEMS LIKE THEY’RE TRYING
TO TARGET PART OF THE PACKAGE
IS THAT THEY TRIED TO.
TAKE CARE OF THE TACT THAT
PROPERTY TAXPAYERS, THEY SET
OUT A LITTLE DIFFERENT
PROVISION TO PROVIDE AND AN
ADDITIONAL EXEMPTION OF 2.4, 7
MILLION DOLLARS AND IN GROSS
RECEIPTS FOR SMALL BUSINESSES.
SO IT IS A FRANCHISE TAX
EXEMPTION WITH MANY TIMES,
MAYBE A CALL THEM THE NUISANCE
TAXES. BUT THAT’S GOING TO
AFFECT, YOU KNOW, OVER $60,000,
60,000 SMALL BUSINESSES ACROSS
THAT’S PRETTY SIGNIFICANT.
MANY OF THESE BUSINESSES WHO
HAVEN’T PAID TAXES WILL CEASE
TO PAY ANYMORE. THIS FRANCHISE
THAT ABOUT A LOT OF PEOPLE
DESCRIBE A LOT OF TAXES AS
NUISANCE. TEXT YOUR EAR EVENTS
WITH US WBC. THANKS FOR BEING