Why Louisiana Voters Need to Vote YES to Remain Tax Free: Amendment #1

By
Real Estate Agent with Marilyn Boudreaux, Century 21 Mike D. Bono & Co.'s 0912122870 LA

 VERY IMPORTANT VOTE COMING UP

"YES" MEANS "NO" ON Amendment #1 NOVEMBER 19

Today was election day across the State of Louisiana where residents voted for state positions, Governor, Senator.  In addition on the Calcasieu Parish Ballot Residents got to vote on a 3 way race for Calcasieu Parish Tax Assessor.

November 19th will be the next election and Louisiana is going to begin hearing more about Amendment #1 which will be on the November ballot and is an Amendment to Stay Tax Free.

 

STAY TAX FREE AMENDMENT FOR LOUISIANA

 

 

Louisiana Realtors from across the state recently gathered at L'Auberge  in Lake Charles for the Louisiana State Realtors Fall Conference and Expo.  One of the events heavily attended was the Stay Tax Free event supporting Constitutional Amendment #1

  • Amendment #1 will prevent the state, or any parish or municipality, from imposing any new tax on the sale or transfer of homes or commercial property. These kinds of taxes are known as real estate transfer taxes.
  • Real estate transfer taxes are double taxation. Most homeowners in Louisiana already pay property taxes. Transfer taxes are simply another tax on the same piece of property.

Amendment #1  will be on the November 19th ballot and is an amendment to prohibit any new real estate transfer taxes in the state. Louisiana does not currently have any transfer tax in place for real estate.  Unlike other states, when a property is sold in Louisiana there are no transfer taxes charged to either the buyer or the seller.

Louisiana is one of only 13 remaining states without a real estate transfer tax.  We want to maintain this advantage over  other states with real estate transfer taxes, especially since the adjacent states of Texas and Mississippi do not have real estate transfer taxes either. 

(37) states and the District of Columbia impose a tax on the transfer of real estate. Louisiana's real estate market is better off for not having a transfer tax, and by remaining tax free, we help ensure the health of our residential and commercial real estate markets by making sure this kind of tax is not imposed in the future.

Louisiana Residents are going to begin to hear more about Amendment #1 when the media blitz begins on October 14.  So it is important to understand why Supporting Amendment #1 to remain Tax Free is so important before the November  19th vote.

 A vote FOR Amendment #1 on November 19 will...

 Protect your home from double taxation. Most homeowners in Louisiana already pay property taxes. Transfer taxes are simply another tax on the same piece of property.  Keep Louisiana free from additional taxes, especially those that unfairly target homeowners and homebuyers.

400 x 160 JPEG

REASONS WHY LOUISIANA RESIDENTS SHOULD SUPPORT AMENDMENT #1 TO REMAIN TAX FREE

  • Additional tax of any kind in a real estate transaction would  inhibit the buying and selling of real estate. No one  will escape the impact - buyers, sellers, agents, brokers, other real estate related industries
  • A real estate transfer tax would make it more costly and harder for people to buy or sell a home.A home is often the largest asset a person has. Real estate transfer taxes place a big burden on homeowners who work hard to build up equity, only to see some of that equity go to government when they sell their property.
  • Real estate transfer taxes can also close doors for some  altogether.  A 2010 study commissioned by Louisiana REALTORS revealed that a 1% statewide real estate transfer tax would have resulted in more than 5,000 fewer Louisiana home purchases, based on 2008 housing figures.

On November 19th, Protect Louisiana Homes from Transfer Taxes VOTE YES (which means NO TRANSFER TAX!)

 Example of what a transfer tax would be for a $250,000 Property.

 

 For more information  on Amendment #1 visit Staytaxfree.com

 

 

Posted by

*

******************************************************************************************

For more information on Lake Charles Real Estate, visit my website.  You can search homes for sale in Lake Charles, Louisiana,  and view up to date information on Lake Charles Subdivisions, Neighborhoods

Find Lake Charles Realtor Marilyn Boudreaux Century 21 Mike D. Bono & Co.'s on Google+

If you are planning a move to or from the Lake Charles, LA area, I can help!   I am a full time Realtor licensed by the Louisiana Real Estate Commission and am affiliated with:


Century 21 Mike D. Bono & Co.'s

4410 Nelson Road, Lake Charles, LA, 70605 USA

337-478-1578 or 337-499-9592

CENTURY 21® is a registered trademark owned by Century 21 Real Estate LLC. An Equal Opportunity Company. Equal housing Opportunity. Each office is independently owned and operated.  The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments are not warranted or implied representation of it's accuracy,  All information is copywritten and the property of the Author, Marilyn Boudreaux.  

 

Follow me on Facebook

Marilyn Boudreaux Century 21

GOOGLE ME 

Google ME

 

 Marilyn Boudreaux Copyright 2012

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Louisiana Calcasieu Parish Lake Charles
Groups:
Louisiana Real Estate
Louisiana Lagniappe
Tags:
real estate tax
louisiana taxes

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
336,621
Hrisco & Associates
Hrisco & Associates | Expert Advisor Home Services - Argyle, TX
-"When Experience Matters - The Agent You Need!"

Hi Marilyn, they have tried to pass some similar amendments here in Texas, but thank goodness for TREPAC, the Texas Real Estate Politcal Action Committee and their efforts on our behalf.

Oct 22, 2011 11:31 AM #1
Rainmaker
2,297,569
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

 

Marilyn, Your explanation of Amendment #1 is very clear and concise.  It boils it all down to the nitty-gritty, as they say.  Bottom line: Yes means No.  People need to vote for Amendment #1 in order to protect homes from double taxation.  May the yes vote win!

 

Oct 22, 2011 05:15 PM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
641,420

Marilyn Boudreaux

Lake Charles LA Century 21 Realtor
Ask me a question
*
*
*
*
Spam prevention

Additional Information