Wednesday, November 18, 2009

Texans vote for amendments that benefit homeowners

Texas voters approved three constitutional amendments that will help reform the property appraisal process, making the system fairer for property owners. Voters also passed a proposition that will strengthen protections against a government entity unfairly taking private land or homesteads through eminent domain.

Proposition 2 will ensure that property-tax appraisals value a residence homestead as a home, not at its "highest and best use."

Proposition 3 creates uniform standards across the state for appraisal methods.

Proposition 5 enables appraisal districts in two adjoining counties to combine resources for a single review board.

Proposition 11 strengthens eminent domain protections, barring government entities from taking private property for private development or for purely economic reasons.

Texas REALTORS supported these amendments because of the benefits they provide to homeowners.

Courtesy of: Texas Association of REALTORS

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