On November 3rd this year, Texans will have the chance to vote on 2 real estate issues. On the ballot will be the option to:
- Increase the Texas homestead exemption from $15,000 to $25,000.
- Permanently ban additional taxes on the sale of real estate in Texas.
These real estate-related bills were approved and now await Governor Abbott’s signature. The governor has until June 21 to sign or veto these proposed laws:
- House Bill 2489 keeps Homeowners Associations out of the property-management business. The bill protects homeowners’ rights by stating that HOAs do not have the authority to screen, approve, or deny prospective tenants. The bill also says that prospective tenants do not have to provide a credit report or lease application to the HOA.
- House Bill 2404 allows a landlord to deduct the charge of re-keying a security device from a tenant’s deposit when the tenant breaches a lease.
- Senate Bill 267 states that cities and counties may not prohibit a property owner (or their agent) from choosing whether to rent to someone based on the person’s source of income, including a federal housing choice voucher (Section 8 vouchers).
- Senate Bill 1760 requires a super-majority vote of a local taxing jurisdiction before that jurisdiction may increase the property-tax rate. [where: 75230]