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.
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.
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