Cast your ballot, save some money
06/12/2015 | Author: Marty Kramer
How often to you get to vote to save yourself some money? Well, put November 3, 2015, on your calendar.
The election that day will include a proposition to raise the homestead exemption in Texas from $15,000 to $25,000. The higher the homestead exemption, the lower your property taxes.
It’s a no-brainer, right? It gets even better.
The same proposition also will constitutionally ban real estate transfer taxes in Texas. Right now, most states slap a tax on the sale or transfer of real estate. Texas does not. Transfer taxes can add hundreds or even thousands of dollars to a real estate transaction.
Both of these measures were championed by Texas REALTORS® during the recent Texas legislative session. Texas REALTORS® are committed to keep the costs of purchasing and owning real estate low.
This is great news for homebuyers and homeowners. But you have to do your part. Take two easy steps to make sure these tax savings will be adopted in our state: First, make sure you’re registered to vote. Second, vote for this proposition. You’ll be doing yourself a favor.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.
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