On November 3, voters are encouraged to vote for Prop 1 (The Homeowner Tax Relief Proposition), deciding whether to amend the Texas Constitution to increase the homestead exemption by $10,000 and ban real estate transfer taxes—or taxes on home sales—permanently.
We want you to be fully informed on Prop 1 before you cast your ballot. Here are the four things Prop 1 does…
- Increases the homestead exemption from $15,000 to $25,000. This is great news for Texas homeowners because it lets you keep more of your hard-earned money.
- Extends the full benefit of exemption to seniors and people with disabilities, providing them a lower property tax cap, which helps keep their property tax burden low.
- Prevents local governments and other taxing jurisdictions from reducing their homestead exemptions through 2019.
- Bans a sales tax on real estate transactions, keeping homeownership affordable and avoiding double taxation on property.
Good Reasons to Vote For Prop 1
- Voting for Prop 1 ensures Texas’ housing market and economy stays strong, keeping homeownership within reach for many Texans.
- Homeowners can build more equity in their home without the fear of being priced out.
- The increased homestead exemption will be absorbed by the State of Texas, meaning it does not and will not affect public school funding.
- 37 states have a transfer tax. The passage of Prop 1 guarantees Texas is never added to that list.
Join us and vote for Prop 1! Early voting starts Oct 19-30. Election day is Nov 3.
Don’t know where the closest early voting poll is for you? Here are polling locations for Travis County and Williamson County.
For more information on Prop 1, visit texansforprop1.com.