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Hidden Taxes

By Tawnya Kabnick

Real Estate Agent with Coldwell Banker

August 06, 2007 10:19 AM

In the past couple of years we have seen the real estate transfer tax skyrocket. This is an easy tax for legislators because the general public doesn't feel an immediate impact. Builders, investors, bankers, those of us in the real estate industry and anyone who has purchased or sold a home certainly has been impacted.

Sunday I read that the New Jersey legislature is considering a bill to permit individual towns to charge their own real estate transfer tax. Where does this stop? As realtors it is our responsibility to let our legislators know that this is unacceptable.

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Kate Bourland

Marketing with Kate - Redding, CA

Onlilne Marketing Mobile Marketing

It stops when the economy says no more. Builders are their own worst enemy. The ROI they expect is so excessive that it breeds this kind of ridiculousness at every level.

I agree, it does need to stop. It's too bad that there's not a simple answer.

Aug 06, 2007 10:21 AM

Shane Sarae

Honolulu, HI

Thank you very much for this post, there really is too much taxes in our current society.

Aug 06, 2007 10:40 AM

Timothy Mertzlufft ABR, e-Pro

Prudential Rubloff Properties - Chicago, IL

Transfer taxes, property tax hikes, our company has one person that has been desiginated to send emails with links to local and state officials to either oppose or approve of any issues that involve the transfer of real estate. In Chicago we are dealing with budget shortfalls throughout the system and they keep coming back to real estate to fund their lack of proper budget management.

I agree with you completely Tawyna, it is our responsibility to let our elected representatives know where our industry stands.

Kate-Why does everyone start the blame with developers? The rate of return that we make may not be as high as you think.

Aug 06, 2007 11:01 AM