CITY OF SAN MARCOS
The San Marcos City Council approved an affordable housing development, The Springs, that are not required to pay property taxes due to the submission of an application for Low Income Housing Tax Credits to the Department of Housing and Community Affairs and the creation of a partnership with the San Marcos Housing Authority at the regularly scheduled meeting last week. There was an item on the agenda that involved a discussion on Low Income Housing Tax Credit Projects, particularly those with property tax exemptions, and the policies governing council approval of those types of projects as well as the need to balance the availability of affordable housing while not putting the burden of funding city processes solely on other property tax paying residents.
“They are looking at an exemption from local taxes,” said San Marcos Mayor Hughson. “We need to remember that local property tax is a good bit of how we fund our parks and our libraries, our public service [and] our police and fire [departments].”
