#TxProp1

Update your voter registration, save money on your taxes

Proposition 1 on the November 3 statewide ballot will lower your property taxes. But you can't vote for Prop 1 if your voter registration isn't current. If you moved, update your voter information here. Or if you're not registered to vote, fill out and submit this application. Why do you want to vote for Prop 1? It lowers your property taxes by increasing the state-mandated homestead exemption. Prop 1 also prohibits state and local governments from imposing a tax on real estate transactions-which means you won't ever have to pay a sales tax if you buy or sell property in Texas. Learn more about why you should vote for Proposition 1 on the November 3 statewide ballot at texansforprop1.com.

Increase funding for transportation infrastructure without new taxes or debt

Increase funding for transportation infrastructure without new taxes or debt In Lehman's Terms This week, a major network news program ran a story about the many states still struggling to recover from the recent economic downturn. Obviously, Texas was not one of those states. The current Texas Quarterly Housing Report shows healthy real estate growth in all segments of our economy and in all geographic regions of our state. Real estate sales and activity continue to be effective indicators of our economy's health. Why is Texas always one of the last states to feel the impact of a slow economy and one of the first to recover? Public-policy makers in Texas constantly look down the road to address problems with our infrastructure needs that could derail our long-term economic viability. Paramount among these needs is transportation. Unfortunately, accelerated growth in Texas has left our transportation system in disarray. Current funding for highways barely keeps up with road maintenance, leaving almost no money for badly needed road projects. But you can do something about this infrastructure problem. Proposition 7 on the November 3 statewide ballot creates a dedicated funding source to fix our current roads, construct new highway projects, and make all our roads safer to drive on. Proposition 7 returns Texas to the pay-as-you-go system of paying for roads, which has served this state so well for generations. Most important, the proposal redirects existing state funds and does not call for any new taxes, new debt, or new toll roads. I urge you to vote for Proposition 7 on the November 3 statewide ballot.

You can ban a new tax on real estate

In Lehman's Terms Call it what you want: A real estate transfer tax. A sales tax on real estate. A real estate transfer fee. A home tax. They're all the same thing: A tax on the sale of your property. Thirty-seven states have such a tax, but Texas does not. And you have the opportunity to make sure Texas never has one. Proposition 1 on the November 3 ballot gives Texas voters the chance to ban a real estate sales tax. Forever. You already pay high property taxes. A vote for Proposition 1 ensures you won't have to worry about adding this tax, too. This vote is important for your personal finances but also for the state's economy. I've participated in economic development initiatives that encourage businesses to relocate to Texas. The message from these out-of-state businesses is always the same: They want to come to Texas for our business-friendly climate and because we don't have a state income tax. But they worry that the state's high property taxes will complicate the relocation of employees. However, when I inform them Texas is one of 13 states that does not have a real estate tax, they again want to come to Texas. Proposition 1 will ban taxes on the sale of real estate. It will also take the first step toward lowering property taxes in Texas. Voting for Proposition 1 saves property owners money now and in the future. Mark Lehman is the vice president of governmental affairs for the Texas Association of REALTORS®.

Listen to the latest "Inside Texas Real Estate" podcast at texasrealestate.com/inside to learn about the power Texas voters have this November.

3 industry-changing legislative wins for you and your clients

Thanks to one of the most successful legislative session in recent history, Texans will have the chance on the November ballot to ban real estate transfer taxes and increase the homestead exemption. Plus, a bill to save Texas real estate brokers $200 per year is waiting for Gov. Abbott’s approval. Click here to learn more about these and several other legislative successes for Texas REALTORS®.