Entrance of So 7

Welcome to So 7 Townhomes — 59 urban townhomes in Fort Worth. (photos Trey Freeze Media)

First of all a grammar lesson: It’s So 7 and it’s pronounced “So Seven.”

There’s no period after the “o.” It’s not “South Seven” or “South of Seventh.”  It’s simply So 7.  Dallas has its quirky areas and nicknames, and Fort Worth has the same.

Welcome to So 7

Built in 2007 before the lauded West 7th Street Corridor between Downtown Fort Worth and the Museum District was much to cheer about, So 7 Townhomes have really come into their own.

That was after the Big One ripped through Cowtown on March 28, 2000. It pretty much destroyed this area.  Buildings were abandoned.  Shops and restaurants were sparse.  There was no urban living.

If an F3 tornado hadn’t ripped through West 7th Street would we have a thriving urban community today?

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The school system is so broken

Everyone wants to live in a highly rated school district, but not everyone can afford that anymore in Tarrant County.

Yes “location, location, location” is still the first thing that comes out of a buyer’s mouth when asked what’s important in their next home.  The second is typically, “We want to live in a good school district!”

Of course, as a licensed real estate sales professionals, we are gagged and bound by money-taking governmental bodies that forbid us from giving facts, figures, or opinions on local schools and school districts.  But thanks to the World Wide Interweb it’s not that difficult to find.

Recently, the Texas Education Agency (TEA) released the 2018 D/FW School District Accountability Ratings, and it’s very telling in regards to real estate.

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DCAD on the road1
Comes word from our on-staff Tax Doctor, Rob Wheelock, of Property Tax Managers, that it’s that time of the year AGAIN: property tax appraisals.
2015 Property Tax Statements are usually mailed out starting the first week of October, and they have been for all non-homesteaded properties. But the Dallas County Appraisal District is holding back on mailing out notices of appraised value on HOMESTEADED properties because of the November 3 election that will increase the homestead exemption from $15,000 to $25,000, if approved by voters. 
Think it’s going to be approved? I sure do!

The Texas Homestead Exemption for School District Property Taxes Amendment, Proposition 1 is on the November 3, 2015 ballot in Texas as a legislatively referred constitutional amendment.[1]

The measure would increase the homestead exemption from property taxes levied by school districts from $15,000 to $25,000.[2]

Depending on their district, homeowners would save an average of between $120 and $130 per year, which would cost the state about $1.2 billion in tax revenue for school districts over two years. Senate Joint Resolution 1, the enabling legislation, would make up for the lost revenue by entitling school districts to additional state aid from the Foundation School Fund.[3]

The proposition also maintains the additional $10,000 exemption for seniors and disabled homeowners already awarded under current law, along with the proposed increase for all other homeowners.

The exemption was last increased in 1997, when voters approved Proposition 1.[4]

The amendment would take effect January 1, 2015.[1]

The Dallas County Appraisal District wisely thought of saving money with only ONE mailing. They are saving paper, as well. I imagine it’s the same in Tarrant and Collin Counties, yes?
Smart people. I wish they could teach the folks at the IRS a few lessons about resource savings…