October 22nd — Early voting has begun and one of the hottest topics for homeowners is Proposition 1, a tax relief needed to improve statewide homestead exemption for Texans. D’Ann Harper of Coldwell Banker D’Ann Harper, REALTORS® has cast her vote in favor of this very important proposition. The entire Coldwell Banker D’Ann Harper, REALTOR® family is very invested in the community, we live here and we work here. This is our Texas.
A quote from a Sales Associate at our Boerne office says it best, ” I believe it is my responsibility as a Realtor to keep my clients, friends & family informed of things that will effect their Real Estate Property Taxes & future Real Estate Transactions. This Proposition, if passed, will save them money on their property taxes & that is certainly something everyone wants to hear!” – Debbie McNeal, REALTOR®
Proposition 1, the first of seven constitutional amendments on the ballot November 3rd is of paramount importance to Texas REALTORS®. The reasons are simple. It provides immediate property tax relief for all homeowners. It also expands this tax relief to seniors and disabled Texans. And finally, it bans a sales tax on real estate transactions.
Contrary to misconceptions, Proposition 1 does not negatively impact seniors, disabled persons or school districts. Meanwhile, with the rapid rise home values across the state an increased homestead exemption will have a tremendous easing effect on the burden of those rising costs. Early voting will continue through October 30th, and to find out where you can vote visit:
Rock The Vote: http://www.rockthevote.com/register-to-vote/
Make sure to vote YES on Prop 1 on Nov. 3rd!
Below are some of the highlights as published on http://texansforprop1.com/, a website designed to outline details and answers questions on this topic.
WHAT IS PROPOSITION 1?
Proposition 1 empowers you to vote to cut your property taxes and protect your home from additional taxes. On November 3, voters will vote on Prop 1 and decide whether to amend the Texas Constitution to increase the homestead exemption by $10,000 (bringing the total exemption up to $25,000) and ban real estate transfer taxes – or taxes on home sales – permanently.
Prop 1 helps make home ownership more affordable for seniors, people with disabilities, and low-income families. On November 3rd, support more savings for Texas homeowners by voting YES on Proposition 1 -the Homeowner Tax Relief Proposition!
WHAT WILL PROP 1 DO?
Prop 1 will save you money by increasing your homestead exemption from $15,000 to $25,000. This is great news for Texas homeowners because it lets you keep more of your hard-earned money.
Prop 1 also helps seniors and people with disabilities by giving them much-needed tax relief, and providing them a lower property tax cap, which helps keep their property tax burden low.
Prop 1 will also constitutionally ban real estate transfer taxes, which target home sales as another taxing source. This means that Texans won’t ever be double-taxed on their property.
WHO IS IN FAVOR OF PROP 1?
Some of the biggest supporters include:
Governor Greg Abbott, ” Join me in supporting property tax relief for Texas homeowners — vote for Proposition 1 on the statewide ballot on November 3.”
Lt. Governor Dan Patrick, ” Statewide Proposition 1 is a critical first step in providing meaningful, lasting property tax relief.”
Texas Association Of REALTORS®
Texas Association of Builders
Real Estate Councils of Texas
Commercial Real Estate Development Association North Texas
HOW CAN YOU HELP? SHARE.
You can make a difference with your friends and family. Every little bit helps. Take these steps to get involved and start spreading the word.