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Texas Association of Realtors supports Prop 1 on the November 3rd ballot

Why REALTORS® care so much about statewide Proposition 1

You’ve probably come across direct-mail pieces, social-media posts, television and radio ads, or newspaper op-eds encouraging Texans to vote for statewide Proposition 1 on the November 3 ballot. These materials are part of a major campaign by the Texas Association of REALTORS® to ensure passage of statewide Proposition 1.

Why does TAR care so much about Proposition 1? Because we advocate for private-property rights in Texas, and this Homeowner Tax Relief Proposition lowers property taxes and bans a future tax on real estate transactions. The cost of homeownership is of paramount importance to the Texas Association of REALTORS®, because any increase in these costs hurts homebuyers—especially first-time and low-income homebuyers.

More on this article: https://www.texasrealestate.com/advice-for-consumers/article/why-realtor...

News Radio KLBJ spoke with Daniel Gonzales from the Texas Association of Realtors

Listen below:

 

From the ballot:

Proposition 1 – SJR 1

“The constitutional amendment increasing the amount of the residence homestead exemption from ad valorem taxation for public school purposes from $15,000 to $25,000, providing for a reduction of the limitation on the total amount of ad valorem taxes that may be imposed for those purposes on the homestead of an elderly or disabled person to reflect the increased exemption amount, authorizing the legislature to prohibit a political subdivision that has adopted an optional residence homestead exemption from ad valorem taxation from reducing the amount of or repealing the exemption, and prohibiting the enactment of a law that imposes a transfer tax on a transaction that conveys fee simple title to real property.”

 

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