Wednesday, October 31, 2007

November 6 Election - TAR Recommendations on Amendments

Nov. 6 constitutional-amendments electionTexas Association of REALTORS® recommendations on constitutional amendments
There are 16 proposed amendments on the ballot November 6. The Texas Association of REALTORS® recommends supporting the following propositions:
Proposition 3 - TAR recommendation of support"The constitutional amendment authorizing the legislature to provide that the maximum appraised value of a residence homestead for ad valorem taxation is limited to the lesser of the most recent market value of the residence homestead as determined by the appraisal entity or 110 percent, or a greater percentage, of the appraised value of the residence homestead for the preceding tax year."
Proposition 6 - TAR recommendation of support"The constitutional amendment authorizing the legislature to exempt from ad valorem taxation one motor vehicle owned by an individual and used in the course of the owner's occupation or profession and also for personal activities of the owner."
Proposition 7 - TAR recommendation of support"The constitutional amendment to allow governmental entities to sell property acquired through eminent domain back to the previous owners at the price the entities paid to acquire the property."
Proposition 8 - TAR recommendation of support"The constitutional amendment to clarify certain provisions relating to the making of a home equity loan and use of home equity loan proceeds."
Proposition 9 - TAR recommendation of support"The constitutional amendment authorizing the legislature to exempt all or part of the residence homesteads of certain totally disabled veterans from ad valorem taxation and authorizing a change in the manner of determining the amount of the existing exemption from ad valorem taxation to which a disabled veteran is entitled."
Proposition 12 - TAR recommendation of support"The constitutional amendment providing for the issuance of general obligation bonds by the Texas Transportation Commission in an amount not to exceed $5 billion to provide funding for highway improvement projects."

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