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Association News

Mar 06, 2015

 TSSA Joins the Coalition for Equal and Uniform Taxation
Coalition Fights Mandatory Sales Price Disclosure

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The Texas Self Storage Association is one of several groups joining forces with the Coalition for Equal and Uniform Taxation (CEUT) to defend the Texas constitution’s guaran­tee of Equal and Uniform Taxation, and fight efforts to impose mandatory sales price disclosure. The Texas constitution mandates that all property be taxed at market value and that the taxes be equal and uniform. Both homeown­ers and businesses have a right to challenge a central appraisal district’s valuation if it does not meet this consti­tutional standard.

“This important protection is one of the fundamental reasons for Texas’ growing, healthy economy,” said coali­tion spokesman David Margulies. “Our tax system has been under attack by certain taxing jurisdictions with an agenda that will hurt the Texas econo­my and has the potential to raise taxes for many Texans.”

Other organizations joining the coalition include: The Texas Association of Business (TAB), NAIOP North Texas, the Texas Chapter of the International Council of Shopping Centers, The Texas Association of Builders (TAB), the Texas Apartment Association (TAA), The Texas Association of Realtors (TAR) and the Texas Hotel & Lodging Asso­ciation (THLA).

The current constitutional require­ment of equal and uniform taxation is being challenged with false claims that undervalued commercial property is raising taxes on homeowners. In fact, according to a report by the respected Texas Taxpayers and Research Asso­ciation (TTARA), residential property has become a larger part of the Texas tax base due to a booming urban housing market and a reduction in manufactur­ing jobs in the state, not because prop­erty is being inadequately appraised.

The organization also opposes mandating sales price disclosure when a property is purchased. In most states, sales price disclosure is used to help calculate a real estate transfer tax. The true market value of a property is affected by many factors, such as as­sumption of existing debt or good will that may not be accurately reflected in the sales price. (The TSSA Fall/Winter Legal Update provided tips on how to keep a sales transaction confidential.)

Anyone interested in this issue may contact the Coalition for Equal and Uniform Taxation at www.fairtaxesfor­texas.com.

Source: Margulies Communications Group