Why REALTORS® care so much about statewide Proposition 1
10/27/2015 | Author: Mark Lehman
In Lehman's Terms
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.
But our efforts don’t stop with property taxes. The Texas Association of REALTORS® constantly watches for practices that harm consumers, such as predatory lenders who target vulnerable homebuyers and the unjust use of eminent domain for personal gain. We also work to stop any proposals that would weaken the consumer protections in the state’s home-equity statute.
Real estate is the driving force behind the state’s economy, and it remains the primary way many Texans accumulate wealth. You can rest assured the Texas Association of REALTORS® will remain at the forefront of public policy efforts to protect consumers’ rights and maintain a strong real estate industry.
I will see you at the polls on November 3.
Mark Lehman is vice president of Governmental Affairs at the Texas Association of REALTORS®. Political ad by the Texas Association of REALTORS®.
Congratulations to Mark Lehman and the Texas Association of REALTORS for a 100% victory in yesterday’s election. Not only did all of the TAR supported constitutional amendments pass, but they all passed by overwhelming victory margins.
Thank you Texas REALTORS for your continued zealous advocacy on behalf of private property rights and fair real estate taxes!
As you may have guessed, I am for Prop 1 and I voted for it the very first day we could, as did a friend of mine…we drove our 14 miles to the Courthouse, voted, then had lunch. Thanks for all you do.
I just couldn’t not say anything! I am hoping you are aware of the history of Texas and Texas REALTORS protecting Texans and their homesteads. Truly one of the main reasons that Texas didn’t have such a horrible time during the financial downturn of the 2008 and onward. If you were around in the 1980’s and in real estate…THAT was a financial crisis, Texas was ground zero and Texans were loosing their homesteads. We didn’t want to see that again. EVER. I am and you should be so thankful that you are able to have investment properties, but I’ve never heard of a homestead exemption on those. However, keep in mind that the work your do and money your spend on your investment property is tax deductible, while money spent on your homestead is not. Fair?
Yeah, right. Stay hopefull, they are going to forget about investors as soon as this passes. Not voting for the incomplete peice of legislature that gives benefits to only a certain group, and not to everyone. It is like you are giving one of the customersat a store a discount at a store, but to another you say “may be next year”. Not fair, no support.
@Jim: Thank you for encouraging others to vote for Proposition 1. You’re right: Early voting runs through Oct. 30, and election day is Nov. 3.
@Ana H: It’s correct that the current law only applies to homesteads. However, please remember that statewide Proposition 1 should be viewed as a first step in reducing the burden of taxes for all Texas property owners. Property tax exemptions for investment properties and commercial properties are something we will certainly be exploring and hopefully promoting during the next session of the Texas Legislature.
Thanks for the reminder! I will early vote as soon as possible.
So why are the investment houses are not included in this law? Why do we want low taxes only on homestead exemt properties? As an investor, I care about all my property taxes, not the one property I live in.
Hi Mark. Great summary—but you would have seen me at the polls last week. It’s not too late to vote early—and every realtor should tell family, friends and clients to do the same!
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