Every year, GFWAR works to raise money for the Texas Real Estate Political Action Committee (TREPAC) through a variety of events, auctions and member pledges. The money raised helps to protect REALTORS® from harmful proposals like a real estate transfer tax, a tax on commissions, a tax on personal vehicles and an increase in license fees. Approximately 6,000 bills are filed during each session of the Texas Legislature, and more than a quarter of them affect the real estate industry. Of those 1,500-plus bills, many would have a negative impact on the pocketbooks of REALTORS®.
Why Invest in TREPAC?
Calculate your savings due to TREPAC…
Mixed-use vehicle tax:
Some county tax assessor-collectors were targeting Texas
REALTORS® for an
ad-valorem (property) tax on personal vehicles.
If left unchecked, this new tax could’ve spread statewide to all
Texas REALTORS® and other independent contractors.
Vehicle value $ x 0.0275 = Your savings
Professional fees:
TAR opposed a legislative proposal to double the $400 fee that
real estate brokers pay for their two-year license in Texas.
Your savings: $400
Tax on services:
TAR defeated another proposal to extend the state sales tax to
professional services. Had it passed, commissions would have
been taxed at 8.25 percent.
Gross commission value: $ x 0.0825 = Your savings
Transfer tax:
A tax on the transfer of real property would discourage
homeownership in Texas. According to a leading economist, that
translates into a seven percent reduction in sales volume.
That’s why TAR has fought hard to stop repeated attempts to pass
this insidious tax.
Sales volume value $ x 0.07 x take-home % = Your savings
By investing in TREPAC, REALTORS® protect their pocketbooks along with those of their clients and customers.