Date Archives: May 2019

More state funding for education requiring local school districts to reduce their tax rates.

Facing a cautiously optimistic fiscal forecast, lawmakers expect to have an additional $10 billion or so to spend over the next two years, compared with the previous budget cycle. They agreed to allocate $6.5 billion in new state funding for schools and $5.1 billion to buy down Texans' local property taxes, which are supplemented by state dollars to pay for public education.

In the end, lawmakers raised the price tag of their education and property tax proposals to about $11.6 billion, and they nixed the mandated across-the-board pay raise. Instead, the final proposal raises the amount of per-student funding each school district receives and mandates that a portion of that funding go toward salary increases and benefits. Districts are expected to prioritize raises and benefits for teachers with more than five years of experience, but otherwise would have flexibility on how to offer salary increases.

On property taxes, analysts estimate the bill would lower tax rates by an average of 8 cents per $100 valuation in 2020 and 13 cents in 2021. That would mean a tax cut of $200 for the owner of a $250,000 home in 2020 and $325 in 2021.

• Texas Tribune, May 27, 2019

When you're getting ready to list your home, it's of the upmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. Here are our top five recommended repairs to make before selling your home.

Repaint walls.

Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up, and generally, it can be a do-it-yourself project. Make sure cover any walls with scratches and chips and consider updating any accent walls with a more neutral coat.

Repair floors.

Hardwood floors are a very desirable feature in a home, so you want to ensure they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing them. And don't forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!

Refresh the landscaping.

Show buyers your home is the full package by dressing up the outside as well as the in. Clean walkways and driveways, plant seasonal flowers and plants, trim hedges and trees, install outdoor décor pieces and fill in mulch and gravel.

Fix your fixtures.

Leaky faucet? Rusted drains? Loose drawer handle? Making these small fixes can make a big difference to potential buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment.

The unemployment rate for women in the U.S. workforce fell to 3.4 percent in April, the lowest rate since September 1953.  The unemployment for women fell below 4 percent in March 2018 for the first time since the dot com boom in 2000. It has remained below 4 percent in 12 out of the last 13 months.  The longest streak of below 4 percent unemployment was 18 months starting in 1952. The record low was 2.7 percent in May 1952.    Unemployment for women over 20 years old fell to 3.1 percent, the lowest in 60 years.  Overall unemployment hit the lowest level since December 1969.

• Market Watch, May 3, 2019

The national seasonally-adjusted unemployment rate for Hispanics and Latinos in the U.S. labor force fell to a record low of 4.2% in April, U.S. Bureau of Labor Statistics data released Friday show.  In April, the unemployment rate for Hispanics and Latinos, aged 16 and up, was 4.2%, down from 4.7% in March – breaking the record low of 4.3% set two months earlier in February. BLS began tracking Hispanic-Latino employment data in 1973.  The number of unemployed Hispanics fell to 1,198,000 - the fewest unemployed since August of 2007 (1,190,000) and a decline of 165,000 from 1,363,000 in March of 2019.  The number of Hispanics participating in the workplace increased as Hispanics' labor force participation rate fell to 65.9% from 67.0% in March.

• CNNS, May 3, 2019

The economy generated a stronger than expected 263,000 new jobs in April, helping to drive down the unemployment rate to a 49-year low of 3.6%. The increase in new jobs easily topped the 217,000 MarketWatch forecast. The jobless rate slid from 3.8% in March to hit the lowest level since December 1969. The average wage paid to American workers rose 6 cents, or 0.2%, to $27.77 an hour. The 12-month rate of hourly wage gains was unchanged at 3.2%. Hours worked each week fell 0.1 hour in April to 34.4. The government revised the increase in new jobs in March to 189,000 from a preliminary 196,000. February's gain was raised to 56,000 from 33,000.

• Market Watch, May 3, 2019