San Antonio-based University Health has received approval for a new budget and to provide additional property tax relief to homeowners in the county's hospital district.
During a Dec. 12 meeting, the Bexar County commissioners court voted unanimously to provide University Health with $3.21 billion for the 2024 fiscal year, a University Health spokesperson told Becker's. The vote also included a 20% homestead tax exemption, which homeowners will see reflected in their 2024 property tax bill.
Prior to the increase, hospital district homeowners received a 5% homestead tax exemption, in addition to the $30,000 exemption in property value from taxes for those 65 and older. In Texas, a 20% homestead tax exemption is the maximum amount that can be offered by law.
"University Health, as the only locally-owned health system in Bexar County, has a responsibility to fulfill and advance our mission," George Hernández Jr., president and CEO of University Health, said in a statement shared with Becker's. "We also have a responsibility to be good stewards to the taxpayers of our community. These taxpayers have been extraordinarily supportive as we have expanded rapidly to meet the needs of our growing population. This increase in the homestead exemption is in recognition of that support as well as our understanding that property values in Bexar County have also grown significantly in recent years."
News of these approvals come after the Dec. 5 opening of University Health Women's & Children's Hospital, which cost nearly $750 million. The 14-story hospital adds 300 beds for specialized care and builds on the existing mother, baby and children services that University Health offers.