Under the Ethics in Government Act and House Ethics rules, Representative Jasmine Crockett has filed the House Form 278e, disclosing the fair‑market value ranges of her real‑estate assets that contribute to her $9 million net worth.
As a Lawyer, Jasmine Crockett has an ongoing case involving a Dallas officer who has already admitted guilt. If the City of Dallas agrees to a settlement, she could get at least $5 million.
If that happens, she would probably step down from her position to take the money, then run again in a special election.
Jasmine Crockett Net Worth
Jasmine Crockett is estimated to be worth $9 million in 2025. In addition to $174,000 salary, she also earns rental income from her real estate assets.
She grew up with a good education, and the way she acts in Congress is just for show. Her dad is a wealthy pastor and a contractor, who gave her a Boat for her 18th birthday.
Crockett was a successful Lawyer before becoming a politician, earning an estimated $5,000 per hour fee.
Real Estate Assets
Crockett’s real estate assets are valued at $5 million. According to Dom Lucre, she owns a $2 million townhouse in Dallas, Texas, a $1.5 million loft in Austin, and a $1.5 million lakefront cabin in Galveston, Texas.
Legal Challenges and Analysis
Under the Texas Tort Claims Act, Ms. Crockett’s lawyer must serve a written Notice of Claim on the Dallas City Secretary within six months of the officer’s misconduct (Tex. Civ. Prac. & Rem. Code § 101.101).
That notice must state the date, time, and location of the incident; describe her injuries; and set out a good‑faith estimate of at least $5 million in damages. If the notice is late or fails to include these elements, the claim is barred.
Compliance and Law Process
Risk Management investigates and City Attorney prepares a Settlement Agreement and General Release
Public City Council vote required under Texas Open Meetings Act (Gov’t Code Ch. 551) with at least 72 hours’ notice
Council must pass an appropriation ordinance under Local Government Code Ch. 102 to fund the payout and issue a payment voucher
Contingent‐fee contract per Texas Disciplinary Rule 1.04(c) typically allocates
- 40 percent of the first $50 000
- 33⅓ percent of the next $50 000
- 25 percent of amounts above $100 000
Counsel may advance litigation costs (e.g. the ~$402 Dallas County filing fee, service fees, expert witness fees) to be reimbursed from the settlement
Final Settlement Agreement must include
- Broad release of known and unknown claims
- Tax reporting provisions (IRS W‑9)
- Medicare and Medicaid lien compliance
- Payment terms (lump sum or installments) via the City’s vendor setup process
Ethics in Government Act
| Net Worth (2025) | Estimated at $9 million. |
| Salary | Earns $174,000 as a member of Congress. |
| Rental Income | Additional income from multiple real estate properties. |
| Financial Disclosure | Must file Form 278e listing assets, income, and liabilities. |
| Real Estate Reporting | Each property listed with value and income range. |
| Liabilities Disclosure | Report mortgages in $1M brackets on same form. |
| Tax Reporting | Rental income reported on Schedule E with deductions. |
| Passive Loss Limits | Losses limited unless she qualifies as real estate pro (750+ hrs/year). |
| Campaign Funds | Can loan personal funds; must file Form 3L and 48-hour notices if >$200K. |
| Conflict of Interest | Must recuse or divest if renters include government entities. |
Each rental property must be listed by address (or block number), a valuation range (e.g. $500,000–$1 million), and rental income brackets (e.g. $1,000–$5,000/month).
She must also report any liabilities tied to those properties (mortgage balances, home‑equity lines) in the same $1 million increments. Incomplete or inaccurate disclosures can trigger House Ethics Committee inquiries and potential fines under 5 U.S.C. App. § 104(a).
For federal and state income‐tax compliance, her $174,000 salary will appear on Form 1040, Schedule A (if itemizing) only for state and local tax deductions up to the SALT cap, while her rental income and expenses flow through Form 1040, Schedule E.
She must net rents received against allowable deductions—mortgage interest (Form 1098), property taxes, insurance, maintenance, utilities, and depreciation under IRC § 167(a) and § 168.
If her passive‑activity losses exceed passive income, they’re suspended under IRC § 469 and carried forward, unless she qualifies as a real‐estate professional (more than 750 hours materially participating), in which case losses can offset her active income.