What's the State Up to Now?
-- Posted: October 17,2007 | Brian Varvel
Your opportunity to stop an unfair tax on your car is just days away. Early voting for the November 6 election runs from October 22 - November 2. Proposition 6 will help small-business owners and self-employed salespeople keep more of their hard-earned money and avoid being singled out for a tax on personal vehicles. Realtors in some Texas counties have already been hit with this annual tax of $600 or more. If Prop 6 does not pass, we, along with independent landscapers, insurance agents, contractors, plumbers, electricians, farmers and ranchers, and many other hard-working Texans may become targets for this vehicle tax.
Be sure to go the polls-and encourage others to do so, too-to vote FOR Prop 6 on November 6.
There is other real estate related legislation that all homewners should be aware as well. The Texas Association of REALTORS® recommends supporting the following propositions:
- Proposition 3 - Limitation on Appraisal Values
"The constitutional amendment authorizing the legislature to provide that the maximum appraised value of a residence homestead for ad valorem taxation is limited to the lesser of the most recent market value of the residence homestead as determined by the appraisal entity or 110 percent, or a greater percentage, of the appraised value of the residence homestead for the preceding tax year." - Proposition 7 - Eminent Domain Changes
"The constitutional amendment to allow governmental entities to sell property acquired through eminent domain back to the previous owners at the price the entities paid to acquire the property." - Proposition 8 - Home Equity Loan Clarification
"The constitutional amendment to clarify certain provisions relating to the making of a home equity loan and use of home equity loan proceeds." - Proposition 9 - Exemptions for Disabled Veterans
"The constitutional amendment authorizing the legislature to exempt all or part of the residence homesteads of certain totally disabled veterans from ad valorem taxation and authorizing a change in the manner of determining the amount of the existing exemption from ad valorem taxation to which a disabled veteran is entitled."
- Proposition 12 - Highway Improvement Bonds
"The constitutional amendment providing for the issuance of general obligation bonds by the Texas Transportation Commission in an amount not to exceed $5 billion to provide funding for highway improvement projects."
We would certainly recommend you read up on this upcoming legislation.
Brian Varvel, At Home in Katy
Brian is the owner / operator of the At Home in Katy Team at Keller Williams Realty Katy @ Cinco Ranch. In addition to his real estate career, he is also a regular contributor to multiple websites on real estate and technology. Brian also takes great pride in serving on the Board for Cinco Charities, Inc. a non-profit organization serving the Katy area.
You can contact Brian at:
281.787.0930
brian@athomeinkaty.com
http://www.athomeinkaty.com
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