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Get Ready for a FIGHT!

By
Real Estate Agent with Leigh Brown & Associates, RE/MAX Executive

OK, all ye citizens of North Carolina.  Gird your loins for a battle in each and every county.

The legislature, in their infinite wisdown (THROW THE BUMS OUT!), voted to allow the individual counties to have referendum to institute land transfer taxes.  Granted, they maxed the allowable tax at 0.4% of the sales price instead of the proposed 1%, but that's still TOO MUCH!

You'll note that in every article written about this tax, it comes up that we as Realtors make oodles and scads of money on transactions, and the poor lil' ole' government isn't getting enough.  WHATEVER.  When someone can show me that the government is fiscally RESPONSIBLE and can account for the money being spent, at THAT point I will support (possibly) future taxes.

This is ridiculous.  A tax which is essentially going to be aimed at the folks who (gasp) choose to upgrade their homes or (gasp again) choose to downsize.  Because THOSE are the folks who are taxing the infrastructure.  Ahem.  The supporters will be the liberals who are NIMBY folks (Not In My BackYard), who want their neighbors who dare to sell to pay back into a wasteful system.  The detractors will be the conservatives like myself who can't see the wisdom in pouring more money into government (yes, I'm in the VRWC).

It's going to get ugly everywhere.  And you know what?  As long as first time buyers and sellers and fourth time buyers and seller entrust ME with their largest financial transaction, I WILL FIGHT THIS CRAP TO ALLOW THEM TO KEEP THEIR OWN EQUITY.

Please folks, talk to your local governments.  The counties are going to shoot for this sooner rather than later, I guarantee.  Get out there and VOTE your mind.

 

Cheryl Johnson
Highland Park, CA
Here is Los Angeles, sellers pay a transfer tax of $4.50 per thousand to the city, plus an additional $1.10 per thousand to the State of California.  I'd be interested to learn what transfer taxes are in other cities.
Jul 30, 2007 02:21 PM
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

Developers and Builders support it over impact fees that may be much higher.

Shut The Door Behind Me recent residents think they will be exempt and the new newbies will pay.

Renters think they will avoid any impact.

The whole scheme is a shell game to institute a new tax that many rationalize as hitting the other guy!

It has nothing to do with schools or infrastructure, or good government.

If enough short-sighted voters think it will disproportionately affect someone else, they will vote in a tax increase and elected officials will crow about increased revenue, and by gum, THEY didn't raise taxes.

Keep up the good work, Leigh!

Jul 30, 2007 02:31 PM
Randy L. Prothero
eXp Realty - Hollister, MO
Missouri REALTOR, (808) 384-5645
Government (we all know I meant the "L" word) has contempt for people keeping their money.  I would have said the word, but I am going out to an appointment and I would have had to brush my teeth again.
Jul 30, 2007 04:16 PM
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Hi Leigh,
Thank you for a good and informative post.  I agree with much of what Mike said especially that it is not about schools, infrastructure or good government.  It's about government reaching deeper and deeper into our pockets to fund their pet projects.  Where will it end?

 

Jul 31, 2007 12:02 AM
Dick & Sandy Beals
Wilmington Real Estate 4U Wilmington, NC - Wilmington, NC

So Leigh, it sounds as if you are starting your platform for your run for office.  I wish we could vote for you!

Dick Beals

Jul 31, 2007 05:03 AM
Sandy McAlpine
RE/MAX EXECUTIVE - Cornelius, NC
Search Lake Norman Homes For Sale - Lake Norman NC

what else can we do? I sent letters to the politicians! It's really sad that the builders will really take a hit on this one as well. Good Job bringing this to the attention to the public more often!

Jul 31, 2007 05:24 AM
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

The really sad aspect here is that NCAR is seen as a bad guy, when I really think this tax will not impact me as a REALTOR.

It is just a bad tax.  When I discuss it with supporters, they are suspicious of my motives, but can't explain how it will affect me personally.

People are pushing for something they don't understand, or prefer not to understand.

Jul 31, 2007 05:37 AM
Jay McGillicuddy
Berkshire Hathaway HomeServices Verani Realty - Exeter, NH
Real Estate Broker

Leigh, here in NH we pay 15.00 per thousand dollars to the state to transfer property. It is divided equally between the buyer and seller. The legislature still wants to gouge some more. It's getting to the point that people won't be able to even sell or buy.

Keep on spreading the word and fight back. Best of Luck.

Jul 31, 2007 09:20 AM
Ron Allen
KW Fayetteville - Fayetteville, NC
Fayetteville NC homes
This is jus another layer of TAX on top taxes already taken from the citizens. Every time a house sells the government collects income taxes from everyone who earns a living from the process; agents, mortagage brokers, lenders, attorneys, inspectors, etc. The government, local, state and federal all have benefited from the recent housing boom but they don't see it that way. It seems that given a chance politicians will kill the goose that lays the golden egg every time.
Aug 03, 2007 01:51 PM
Ginger S
Wilkinson & Associates, Wilmington NC - Wilmington, NC
Wilmington NC Real Estate & Relocation~

Leigh, Hopefully the voting public wil have more sense than the legislators. I can not see this passing in our local counties!

Ginger

Aug 05, 2007 03:08 AM