There are some important Texas homeowner propositions up for Vote on November 3, 2015. Please take a moment to review them.
Proposition 1 – SJR 1
“The constitutional amendment increasing the amount of the residence homestead exemption from ad valorem taxation for public school purposes from $15,000 to $25,000, providing for a reduction of the limitation on the total amount of ad valorem taxes that may be imposed for those purposes on the homestead of an elderly or disabled person to reflect the increased exemption amount, authorizing the legislature to prohibit a political subdivision that has adopted an optional residence homestead exemption from ad valorem taxation from reducing the amount of or repealing the exemption, and prohibiting the enactment of a law that imposes a transfer tax on a transaction that conveys fee simple title to real property.”
Proposition 2 – HJR 75
“The constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of all or part of the market value of the residence homestead of the surviving spouse of a 100 percent or totally disabled veteran who died before the law authorizing a residence homestead exemption for such a veteran took effect.”
>> Read more about ALL the propositions on the 11/3/2015 ballot in Texas: http://www.votetexas.gov/november-3-2015-constitutional-amendment-election-ballot-language/
Visit my website at: www.juliecnichols.com or contact me with any of your home loan questions.