March 18, 2015 — Austin
The Texas REALTORS® applauds the Senate Finance Committee’s vote to move tax relief forward. The proposed legislation would increase the homestead exemption, eliminate the franchise tax for a majority of small businesses in Texas, and place a constitutional prohibition on the application of a tax on any real estate transaction.
“We are thrilled that the Senate has prioritized meaningful, lasting tax relief for Texas homeowners and businesses and are thankful to Lt. Gov. Patrick, Chairman Nelson, and Chairman Schwertner for putting forth innovative solutions to this important issue,” said 2015 Texas REALTORS® Chairman Scott Kesner.
“We are especially supportive of SJR 1, which would prevent future legislatures or local governments from imposing a tax on real estate transactions,” added Kesner. “The Texas REALTORS® urges the Senate to act in the best interest of Texas homeowners and businesses by passing these measures and sending them to the House.”
The Texas REALTORS® is one of the most active advocacy organizations at the Texas Capitol and supports legislative efforts to ensure Texas remains a great place to buy, sell, lease, and own real property. In recent years, Texas REALTORS® have supported responsible investments in the state’s water and transportation infrastructure, meaningful reform to the property appraisal process, and important consumer protections in real estate transactions.