If you are (or intend to be) a homeowner in Texas, this is an important legislative update that DOES effect you!
Vote on November 3rd
Vote on November 3 because you will have the chance to permanently ban taxes on the sale of real estate and to increase the homestead exemption from $15,000 to $25,000.
House Bill 2489 by Rep. Jeff Leach (R-Plano) keeps HOAs out of the property-management business. The bill protects property owners’ rights by clarifying that HOAs don’t have the authority to screen, approve, or deny prospective tenants. The bill also explicitly states that prospective tenants don’t have to provide a credit report or lease application to the HOA.
Senate Bill 1760 by Sen. Brandon Creighton (R-Conroe) requires a supermajority vote of a local taxing jurisdiction before the jurisdiction may increase the property-tax rate.
The final steps
Gov. Abbott has until June 21 to sign or veto the proposed laws. If he doesn’t take action, the bills become law on June 21 automatically.
I am a proud contributor to the Texas Real Estate Political Action Committee (TREPAC) whose mission it is to protect private property rights and was instrumental in getting these legislative initiatives passed to further that mission.