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Housing Changes for 2012
Proposition 1 Support
As Election Time rolls around, the Texas Association of Realtors has released it's lists of constitutional amendments that the organization supports. Of the the 10 coming onto the ballot, the Texas Association of Realtors has come out in favor of Proposition 1,2 and 8.

The most suprising one was Proposition 1. It was suprising because most people would have assumed that this was already law. By state law, Texas veterans who are 100% or totally disabled receive a property tax exemption. If passed, this proposition would extend that exemption to the veteran's surviving spouse. To receive the extension of benefit, the property must have been the residence homestead of the surviving spouse when the qualifying veteran died. It would remain in effect as long as the surviving spouse does not remarry and the property remains the residence homestead of the surviving spouse.

How it will appear on the ballot

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.

The bottom line

Vote Yes on Prop 1. By easing the financial burden of remaining in the home, Proposition 1 not only honors the memory of the veteran, but the spouse, who also sacrificed for our great country.
Posted By - Wayne Marinik - 10/17/2011
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