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Education and taxes
Lets make the solution fair.
by
Dave Dalzell It’s the most important issue currently facing politicians and taxpayers alike: How do we provide the very best education for our next generation? Of course, the only way is through taxes, but which taxes and how much? I don’t know the right answer. I do know that a lot of people—elected leaders, consumer groups, and REALTORS®—are working on the answer right now.
Our elected representatives are working on how to ensure that every child in Texas receives the best possible education. Rumors are that the governor may call a special session of the Legislature soon. Several solutions have already been floated. Some of these ideas are good. Some are not. For instance, one suggestion expands the sales tax to include all services. Yes, that means a tax on our commissions. We might not mind a tax if it were fair and equitable to all residents of the state. We do mind a tax that singles out a few industries, mostly small businesses, and expands the tax on their services. That is wrong, wrong, wrong.
Not only would this tax affect us, but it would be extremely detrimental to the Texas economy. A study just out by the Real Estate Center at Texas A&M University looked at the potential consequences of expanding the sales tax to cover services. They conclude that “nearly all households in Texas would face a net tax increase even after property-tax reductions
act to offset the sales tax increase.” The study also claims that home
values could go down and economic development would suffer. Previous studies project that this type of plan could mean the loss of 56,000 jobs
in the state.
Another suggestion out there places a tax on the real estate sale itself. This tax would add hundreds, even thousands, of dollars in cash to the closing costs. Can you imagine how many lower-income and minority buyers who have scraped and saved for their first home would be priced out of the market? Once again, that is wrong, wrong, wrong.
REALTORS® know that funding the highest quality education for our children is the most important legislative issue facing our state. Let’s make sure the solution is fair and equitable. Let’s make sure all residents of Texas pay their fair share and no one is overburdened.
As your chairman, I know that every REALTOR® in Texas stands ready to make the commitment in time and money to fight for a fair solution. That’s why Texas REALTORS® are pledging to support our Texas Association of REALTORS® Political Action Committee (TREPAC) and why Texas REALTORS® are signing up to be involved in visits, calls, letters, and e-mails to our representatives. The REALTOR® party is primed and ready.
For more on how you can be involved, visit the Texas Association of REALTORS® Govt. Affairs section of TexasRealtors.com today.
Photo by Scott Van Osdol.
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REALTORS®, visit www.texasrealtors.com.
