“Success in business requires training and discipline and hard  work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were.” –David Rockefeller

OWNERS NEWSLETTER – AUGUST 2018  

$350,000 – Number of jobs created in Texas in the past year, making Texas the top state for business in the nation according to a recent CNBC News article.

8,513 – Approximate number of Fort Hood soldiers deployed as of July 10, 2018, according to the Heart of Texas Defense Alliance.

500 – Approximate number of staff for the Army’s new Futures Command, a high-level headquarters that will be setting up shop in Austin and will be headed by a four-star general. Fifteen cities were being considered for the location, including Austin, Boston, Minneapolis, Philadelphia, and Raleigh. The new command will aid in countering the growing threats from countries such as China and Russia.

112 FAHRENHEIT – Record high temperature recorded last month on the 23rd. We also experienced a record number of consecutive days at 105 degrees or above in July, and a total of twenty days at 100 degrees or above. By comparison, we had ninety days of triple digit heat in 2011.

INTEREST RATES – Still inching up. The current fixed rate on a conventional loan is now 4.75%. The VA and FHA 30-year fixed is now 4.375%.

7,403 – The number of tax exempt properties in Bell County in 2018. This is ten times the number of properties that were free from taxation in 2009 when homestead property taxes were eliminated for 100% disabled veterans. In 2011, the tax exemption was extended to the spouses of 100% disabled veterans. In addition to buying homes, veterans also buy land, which as of this year, has exempted $1.27 billion in land from taxation in Bell County. In 2009, $87.3 million of land was tax exempt. Property taxes are what fuel the government and fund valuable services. The huge number of tax exempt properties is creating a financial crisis for cities surrounding Fort Hood. Killeen, for example, is expected to lose an estimated $4.76 million next year from tax exempt properties. Of the 7,403 tax exempt homesteads in Bell County, 4,297 are located in Killeen.

David Gerke

Broker

Posted by: juliem on July 31, 2018
Posted in: Uncategorized