How Texas real estate won big on Election Day
The November 7 election was a great example of the many ways Texas REALTORS® engage at the state and local level.
Communities across Texas had several huge wins on Election Day, thanks to the support of TAR’s Issues Mobilization Committee, which provides resources when a local association identifies a local issue that could affect Texas REALTORS® or property owners.
3 local issues victories
Issues that arise locally can have larger implications if they aren’t addressed effectively. Here are three ways Texas REALTORS® fought for real estate in their communities.
- In the city of Bryan, voters successfully passed 12 out of 13 of the city’s proposed charter amendments, thanks to the efforts of the Bryan-College Station Regional Association of REALTORS®. Earlier this year, BCS REALTORS® defeated a petition of proposed charter amendments that would have significantly harmed the community.
- The Paris City Council sought to abolish the city’s Economic Development Corporation, which would have limited the city’s ability to attract employers and maintain economic viability. Thanks to the efforts of the Paris Board of REALTORS®, the ballot measure failed 75%-25%.
- The Nolan County Association of REALTORS® successfully supported a ballot measure in the city of Sweetwater to transition the city’s Economic Development Corporation into a Municipal Development District. The MDD will allow the city to fund a wider variety of projects than the existing EDC.
Prop 2 overwhelmingly approved
Thanks to the efforts of Texas REALTORS® across the state, Proposition 2 passed with 68.6% voter approval!
The new law will update the home equity lending provisions in the Texas Constitution, allowing more homeowners to access smaller loans.
This amendment will take effect Jan. 1, 2018 and will apply to new home equity loans made on or after the effective date and to existing home equity loans that are refinanced on or after the effective date.
Texas REALTORS® fought hard for this constitutional amendment from beginning to end. The Public Policy Subcommittees discussed the issue last year before the legislative session, and TAR’s Executive Board agreed to make it one of TAR’s priorities for the 85th Texas Legislature.
Then, Texas REALTORS® were strong advocates for the legislation during session, extolling its virtues one-on-one with lawmakers during REALTOR® Day at the Texas Capitol. Finally, Texas REALTORS® worked tirelessly getting the word out to support Prop 2 on the ballot.
All of these efforts lead to another great win on behalf of Texas homeowners!