Financing in Texas>Question Details

Tammye J. Ku…, Real Estate Pro in Aledo, TX

Trying to learn truth about a rumor . Is Texas trying to tax residential real estate transactions? If so what Texas Bill is it included in?

Asked by Tammye J. Kuntz Fort Worth, Aledo, TX Sat Jun 11, 2011

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The best way to find up to date information is to visit the Texas Legislation Session Website and search for information regarding taxation on real estate transactions. Here you will be able to track a bill up to the minute and find out if it has passed, denied, or sent to the Governor to be signed or vetoed.
0 votes Thank Flag Link Sun Jun 12, 2011
Tammye,
Visit the Texas Association of Realtors website. It is chock full of info on motions.

By the way, TAR is located right behind the Capitol building in Austin. Remember to respond to any Call for Action from them, so our Realtor voices are heard on such issues. The state already captures a cursory amount on each side of a closing in Texas. Taxing the real estate transaction further would be an injustice to our sellers and our buyers in the Lone Star State, don't you agree? Personally, I think it would cause sellers to try to artificially inflate listing prices, like they try to do, at times, by attempting to add the real estate sales commissions on top of the market value of their home. There are no free rides, but only the Seller and Buyer are parties to the transaction. The Seller deserves a fair return and the Buyer deserves a fair deal. To throw in a taxing element, beyond capital gains, would stall owner from moving in the timeframe they desire, and would slow down several thriving industries that put funds back into our communities (title services, inspections, surveying, real estate agencies, contractors, and government employees who deal with the filing of deeds).
0 votes Thank Flag Link Sun Jun 12, 2011
I'm trying to follow the 82nd session and need to research further. If you have any information I could pass on that would be appreciated.
0 votes Thank Flag Link Sat Jun 11, 2011
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