San Antonio homeowners will see a higher city property tax rate after City Council approved its first increase in more than 30 years Thursday.

The council voted 7-4 to approve the increase as part of a $4. 4 billion budget designed to address a projected $158 million shortfall through fiscal year 2028.

The city's property tax rate will increase from 54. 159 cents to 56. 288 cents per $100 of taxable value - an increase of nearly 4%.