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Cindy Rubiano

Loan Administration Manager at Generations Federal Credit Union

As the 89th Texas Legislature kicks off, several key real estate issues are on the agenda, with the potential to significantly impact housing and property ownership across the state. Here’s what to watch: Property Tax Reforms Building on the $18 billion reduction achieved last session, lawmakers are exploring further ways to ease property tax burdens. Proposed measures include capping annual appraisal increases for primary residences at as low as 2.5% (down from 10%) and using state surplus funds to support schools, thereby reducing the reliance on local property taxes. Foreign Ownership Restrictions Legislation is being introduced to restrict or ban property ownership by citizens of certain foreign nations deemed “hostile.” These proposals aim to address national security concerns but have drawn criticism for their potential discriminatory impacts. Corporate Landlord Regulations The role of corporate landlords in the housing market is under scrutiny, with lawmakers considering regulations to address their influence on housing availability and affordability. Zoning and Housing Affordability In response to the ongoing housing affordability crisis, there is bipartisan interest in reforming land use and zoning policies. Potential changes include reducing minimum lot sizes to promote diverse housing options, such as multiplexes and townhomes, in areas currently limited to single-family homes. These discussions highlight the Legislature’s focus on balancing property rights with the need to address housing challenges and ensure affordability for all Texans.

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