Do you and your agents want to pay less in taxes? Do you want to help millions of Texans do the same, including your clients and elderly and disabled homeowners?
Then go vote! Early voting has already begun for the November election, which includes 17 propositions. Texas REALTORS® has endorsed nine propositions that will help save you money and support future growth.
What are you waiting for? Turnout has been especially low this year, so your vote makes an outsized impact! Head to the polls to make a difference in your community and tell your clients, colleagues, and family to support these propositions at the ballot. Here’s why:
Proposition 13: YES to increase the homestead exemption
Proposition 13 would raise the homestead property tax exemption on school taxes from $100,000 to $140,000. This allows Texas homeowners to pay less on school taxes, which make up the largest share of tax growth.
Proposition 11: YES to increase the homestead exemption for elderly and disabled property owners
Proposition 11 would increase the homestead exemption for elderly and disabled homeowners from $10,000 to $60,000. This would lower the tax obligation for some of the most vulnerable Texans, helping to keep them in their homes.
Proposition 1: YES to funding technical colleges
Proposition 1 dedicates existing funds to the state technical college system to help meet the demand for skilled workers in key sectors. This proactive development of the state’s skilled labor force means more Texans can earn good-paying jobs—opening the door to mortgage qualification, homeownership, and stronger local housing markets.
Proposition 2: YES to banning capital gains taxes
Proposition 2 prohibits capital gains taxes on individuals, estates, and trusts, as well as the franchise tax on business trusts. This proposition would further signal the state’s commitment to a favorable tax environment.
Proposition 4: YES to support future water projects
Proposition 4 allocates $1 billion in existing sales tax revenue annually to the Texas Water Fund to help pay for water infrastructure projects. Dedicating this revenue stream prepares Texas for future growth.
Proposition 8: YES to ban death taxes
Proposition 8 prohibits estate taxes and new taxes on estate transfers, inheritances, and gifts. This means families can keep their homes, farms, and small businesses without having to sell to pay a government bill.
Proposition 9: YES to increase exemptions on business personal property
Proposition 9 increases the tax exemption—from a $2,500 to $125,000—on business personal property, such as furniture and computers. This will save your business hundreds of dollars annually and eliminate administrative burdens.
Proposition 10: YES for tax exemptions for property destroyed by fire
Proposition 10 allows a temporary property tax exemption for property destroyed by fire, giving relief so Texans can rebuild their lives.
Proposition 17: YES for tax exemptions for border security land
Proposition 17 allows a property tax exemption for property owners who volunteer their land for border security projects.
Visit texasrealtorssupport.com to learn more. Early voting ends October 31 and Election Day is November 4!
Ask your agents to check back with past clients to see if they claim the homestead exemption—you might be surprised how many homeowners haven’t done the simple paperwork to save themselves a significant amount of money!
