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New Property Tax Law Interpretation Will Cost San Angelo Seniors Thousands
SAN ANGELO, Texas — The Tom Green County Appraisal District is changing how it has handled property taxes for San Angelo retirement communities for the past 34 years.
Tom green county appraisal district san angelo
These changes could cost residents of these communities hundreds, if not thousands, of dollars annually.
At the center of the issue are homestead exemptions for properties at Rio Concho West, Appaloosa Trail, off FM ; Rio Concho Patio Homes, Rio Concho Dr.; and the Baptist Memorial Northgate homes at N.
Main St. Village East, Sul Ross, is also impacted.
These are retirement communities where residents purchase the right to live in the homes for the rest of their lives. Residents also pay a monthly maintenance fee. Upon their death, the property reverts to the property development manager — or example either Rio Concho Inc., Baptist Memorial, or Village East.
Up until this year, the appraisal district classified each residence in these develo