San Antonio City Council is considering raising property taxes for the first time in 33 years to account for the loss of city revenue resulting from rapidly dropping property values, the Express-News reports.
The matter was brought up at city council meeting Wednesday afternoon, during which City Manager Erik Walsh said city revenue projections haven’t looked this bleak since 2011.
Taxable values on existing San Antonio properties are down 3.54%, and overall taxable value, which includes new properties, is down 2.13%, according to the daily…