Upcoming real estate propositions for Nov 3rd ballot

This blog is specifically about propositions 2, 3, 5, & 11 regarding Texas real estate that will be coming up for a vote on November 3, 2009. It has been falsely claimed that proposition 2 will allow the state of Texas to levy property taxes on it's citizens. Proposition 2 is strictly a rule that will only allow the taxing entities to appraise your homestead property based upon it's current use. In other words if your property is located next to or close to a property that has commercial zoning, the tax appraiser could conclude that the highest and best use of your property would be commercial and appraise you as a commercial property conceivably raising your property value and thereby your taxes. If you own an investment property next to commercial zoning such as a rent house, you could still be appraised as a commercial property. This proposition only applies to your homestead.



Proposition 3 will insure that tax appraisal standards are applied uniformly throughout the state. Currently appraisal methods differ in appraisal districts and there is no over site of methodology or consistency.



Proposition 5 allows smaller adjoining appraisal districts in the state to pool their appraisal review boards together to make sure the smaller counties have enough qualified people to serve on the boards. The lack of qualified people to serve on boards for smaller districts is big problem at this time.



Proposition 11 puts more teeth in the Eminent domain laws that allow the state to condemn your property and buy it from you at "Fair market value" for public use. It should not allow private entities such as the Cowboys to have property condemned for economic development or enhancement of tax revenue purposes, and limits the legislature's authority to grant the power of eminent domain to an entity. Many comments have been made that this proposition does not go far enough to protect Texas property owners.