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Take advantage of the opportunity
Your involvement in opportunity races makes a difference in your future.
Do you want your voice to be heard when decisions that affect your business are being made? Then you must get involved in your association and your industry. Your participation is key to ensuring that elected officials will protect your pocket book, your business and the rights of private-property owners. With your vote this past November 2007 for Prop 6 Texas REALTORS® saved roughly $51 million annually in potential taxes to their personal vehicles.
As the new year begins, it also signals the start of Texas primary election season. Voters across the state will go to the polls Tuesday, March 4 to select their parties’ candidates for the general election in November. All 150 members of the Texas House and 15 of the 31 Texas senators will be up for election. Early voting begins February 19 and ends on February 29. If you are not registered or you recently moved, you must be a registered voter in Texas by Monday, February 4 in order to let your voice be heard. You may download a voter registration form online at the Texas Secretary of State’s website.
Help your friends
It’s important for the voices of Texas REALTORS® to be heard during this process. How important? During the past legislative session, approximately 4,000 bills filed affected your business. Having elected officials friendly to REALTOR® issues is vital to the success of your business and the industry.
Some current officials who’ve shown past support for REALTOR® issues need our help to stay in office. These “friendly incumbents” as well as other REALTOR®-friendly candidates can benefit from the Texas Association of REALTORS® Opportunity Race Program. This program channels the combined resources of state and local associations to help elect candidates for state office who are supportive of real estate interests.
Opportunity races
The Opportunity Race Program enables local associations to participate in a candidate’s race through direct-mail, phone calls, road signs, promotion in association publications, and personal promotion to clients, friends, and family of Texas REALTORS®.
Below are some activities that Texas Association of REALTORS® field reps are working on for Opportunity Races in their areas:
- Encouraging Texas REALTORS® to register to vote—by Feb. 4
- Creating “Texas REALTORS® for [candidate name]” steering committees
- Organizing events within legislative districts for Texas REALTORS® to meet and learn more about candidates
- Distributing press releases to local media
- Posting yard signs for candidates, block walking and phone banking
- Assisting candidates’ campaign teams with any get-out-the-vote activities
For a complete list of Opportunity Races candidates check out TexasREALTORS.com
It won’t happen without you
Get involved and let your voice be heard. Contact your association executive or Texas Association of REALTORS® field rep to find out how you can help with opportunity races in your area. Make sure elected officials whose decisions affect your business, industry, and community support the real estate industry and private-property rights.
Elizabeth James is the Central Texas Field Representative for the Texas Association of REALTORS®. She can be reached at ejames@texasrealtors.com or 512/971-8334.
Protect your pocketbook and your business
Invest in TREPAC now!
The Texas Real Estate Political Action Committee (TREPAC) protects your rights as a real estate professional and the rights of the consumers you serve. With the start of the campaign season upon us, investing in your business through TREPAC will help ensure the real estate industry remains politically strong and will continue to thrive.
Thanks to your effort, participation, and investment, the Texas Association of REALTORS® enjoyed a very successful 80th legislative session. While many associations failed during the tumultuous session, TAR was able to pass all of its legislative priorities. Here are some of the highlights.
Exempting your vehicle from taxation
This session, the Texas Legislature clarified the rules regarding ad valorem taxation and mixed-use vehicles. Pending the passage of a constitutional amendment on November 6, all personally owned vehicles that are used in the production of income will be exempted from ad valorem taxation. This exemption will save the average Texas REALTOR® more than $500.
A real estate transfer fee? No thanks
In the final days of the session, the association issued a call for action to support a bill that prohibited a real estate transfer fee. More than 6,500 Texas REALTORS® responded. This bill closed a loophole, preventing a scam where private companies could create a 1% real estate transfer fee by placing a deed restriction on a property to be paid for 99 years. Thanks to your response to this call for action, the Texas Association of REALTORS® ensured that transaction costs do not skyrocket and price homebuyers out of the market.
Preventing mortgage fraud
Mortgage fraud is difficult to detect and even harder to prosecute. Also, no central organization exists to collect information on the amount of fraud or its costs to society. Legislation that has now been signed into law strengthens the regulation against mortgage fraud by opening up the lines of communication among local, state, and federal law enforcement agencies and creating a Residential Mortgage Fraud Task Force. This is a strong step forward in taking action against a crime that affects too many homeowners in Texas.
The tremendous success of this session is a direct result of having legislators in office that understand how the real estate industry drives the Texas economy. And TREPAC ensures people at the Texas Capitol are willing to listen to the needs of Texas REALTORS®. With only two months left to hit our TREPAC fundraising goal, now is the time to make your investment. So help keep the Texas REALTOR® party strong in Texas government by investing online at TexasRelators.com/TREPAC today! We need your help.
Elizabeth James is the Central Texas Field Representative for the Texas Association of REALTORS®. She can be reached at ejames@texasrealtors.com or 512/971-8334.
Get involved: Have a say in your community’s tax rates
You probably already know that if you disagree with your assessed value from the appraisal district, you have the right to protest and perhaps get your value adjusted. And if you don’t agree with the appraisal review board’s decision, you can submit your case to binding arbitration. However, the value of your property is only half the equation. While this year’s protest period has ended, it’s important to note that the tax rate applied to that property value is just as significant. Did you know that you may have several opportunities to change your community’s tax rate? You can affect your property taxes by being an informed voter and by participating in property-tax rate hearings.
Background
To reduce the property-tax burden on homeowners, state lawmakers in 2006 established a comprehensive tax-reform package. This tax system implemented a new tax for businesses, and lowered over two years the school property-tax rates for everyday operations from a maximum of $1.50 to $1.04 per $100 valuation. Should a school district require more revenue, they have the option to increase the tax rate to $1.17 per $100 valuation with voter approval. However, many Texans don’t receive the full benefit of the property tax relief because of increasing appraisal values and rising tax rates.
Influence your local tax rate at the polls
Several school districts are already asking voters for permission to increase their tax rates. In some cases, the rate would shoot to the maximum allowed, $1.17 per $100, well beyond the $1.04 per $100 valuation set by the state for maintenance and operations. It’s startling to see how many school districts have already filed to be on the ballot to increase their tax rates—and there’s plenty of time for more districts to file. In Bexar County alone, five school districts are asking voters for permission to bump their tax rates to the maximum allowed.
Texas REALTORS® are not against voter-approved money for schools. In many cases, school improvements are necessary, and children deserve to attend a school with good facilities. The key is for voters to make informed decisions about what they’re paying for, and it’s troubling to see the way these rate increases are marketed. There is no “free money.” All rate increases come with a real cost to property owners.
Attend a rate hearing
A taxing jurisdiction can also use an increase in appraised value as a revenue source. Local officials can keep the tax rate unchanged and boast how they’ve never raised taxes. What they may fail to acknowledge is that they can maintain the same tax rate—or in some cases lower it—and still enjoy increased tax revenues because of higher appraisals.
Find out about your local tax rates and what your taxing jurisdiction is proposing for next year. Ask when the rate hearing is; most taxing entities finalize their rates by October and will likely be meeting soon. In most cases, the tax rate is based on the budget of the taxing entity. Many cities post their budgets on their Web sites, and getting tax information for your area is not difficult.
Making a difference
It’s no secret that Texas has some of the highest property taxes in the nation and subsequently ranks 45th in the nation in homeownership. As a Texas REALTOR®, you can make a difference. Whether through TREPAC, candidate interviews, opportunity races, or something as simple as voting or attending a local tax-rate hearing, your involvement influences what happens. Find out when your taxing entity will hold budget and tax-rate hearings. Make it a priority to attend and be informed. Only through your involvement can you help decide whether the tax entities’ services merit increased tax revenues. Make sure that you are part of the solution.
Elizabeth James is the Central Texas Field Representative for the Texas Association of REALTORS®. She can be reached at ejames@texasrealtors.com or 512/971-8334.
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